Labor and Wages

Last week Business Insider referenced a study to defend NYC's minimum wage law. Neither holds up well upon any sort of serious analysis.

Those who suffer most from mandated wage hikes are low-skilled workers, disabled workers and part-time workers in the sector. And poorer regions suffer more than rich ones.

An estimated 78 percent of the UK’s working population are unable to make ends meet between pay-days. Neo-Keynesian policies are to blame.

If the fans want the women to be paid more than the men, the consumers will have to spend more on watching them.

Federal labor laws increase monopoly power, reduce competition, and void free association, all in the name of "workers' rights."

We continue to live with the wreckage of failed urban renewal, and Progressive city planning. And the evidence can be seen in the tent cities and makeshift latrines we now see in public spaces.

Capitalists provide a service to workers: access to capital with no risk, and immediate payment for services. Meanwhile, starting your own business brings both risk and a long wait before the profits start rolling in.

In the conditions of a labor shortage, which necessarily materializes if wage rates go below the point corresponding to full employment, the payment of higher wages provides exactly the same benefit to employers.

Alexandria Ocasio-Cortez is aghast that some people like to pick up a few bucks doing work which brings no prestige. This is part of a larger obsession among politicians with de-valuing and working against unglamorous jobs that involve "dirty" work.

Even if a machine were technically capable of providing the same service more cheaply, many consumers are likely to prefer human staff in many cases, including nurses and care providers, entertainers, chefs, and teachers.