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This is not 1997
This is not 1997 Not that minimum wages are anything new. The USA introduced its Federal Minimum Wage as far back as 1938; although today each state sets its own rate. And the general consensus is that minimum wages help raise wages in general with little or no impact on employment as a whole. The broad […]
Venezuela In Chaos After Maduro Announces Massive 95% Devaluation, New FX Rate Tied To Cryptocurrency
Venezuela In Chaos After Maduro Announces Massive 95% Devaluation, New FX Rate Tied To Cryptocurrency Chaos and confusion erupted across Venezuela, and most stores were shuttered on Saturday, after president Nicolas Maduro announced that the government would enact a massive currency devaluation, implement a new minimum wage, hike taxes, and also raise gasoline prices for […]
3 Economic Fallacies That Just Won’t Die
3 Economic Fallacies That Just Won’t Die Henry Hazlitt discussed, dissected, and debunked 22 economic sophisms in his classic work ‘Economics in One Lesson.’ In any academic discipline, one can find two types of experts: those who are incapable of explaining complex ideas in a simple manner; and those capable of making the difficult look […]
Oh Canada! Part-Time Jobs Crash Most In History
Oh Canada! Part-Time Jobs Crash Most In History The Canadian job market has never lost more part-time jobs – ever – than in January… Canada’s unemployment rate rose to 5.9% as total job losses for January dropped the most since 2009, but it was the 137,000 collapse in part-time jobs that stands out. So what […]
Minimum Wage Fallout Is Caused by Government, Not Businesses
Minimum Wage Fallout Is Caused by Government, Not Businesses Employees don’t magically become more productive because businesses have to pay them more, so they need to make up the losses elsewhere. Both in Canada and in the U.S., many jurisdictions have “listened” to the people and enacted feel-good legislation like increasing the minimum wage, sometimes […]
Is America a Police State?
Is America a Police State? The current state of the United States’ criminal justice system, if it can even be called that anymore, is truly appalling. Recently, in a small town in Pennsylvania, an insurance agent for Nationwide Insurance noticed a certain plant growing in a garden on the property he was inspecting. This insurance […]
In Most Countries, 40 Hours + Minimum Wage = Poverty
In Most Countries, 40 Hours + Minimum Wage = Poverty Last week, we noted that Democratic lawmakers in the US are pushing for what they call “$12 by ’20” which, as the name implies, is an effort to raise the minimum wage to $12/hour over the course of the next five years. Republicans argue that if Democrats […]
What Happens After A Mega Corporation Raises Its Workers’ Wages
What Happens After A Mega Corporation Raises Its Workers’ Wages Earlier today, McDonalds announced that it would become the latest company to raise hourly pay for 90,000 workers by more than 10% and add benefits such as paid vacation for its restaurant workers. Specifically, starting in July, MCD will pay at least $1 per hour more than the […]
