There is a huge, gaping hole in the response right-wing politicians are giving to demands that the minimum wage be raised in the United States–they are assuming that employers generally behave in an irrational, inefficient way. Here’s how.
Continue reading “Minimum Wage: Rational Employers are Not Job Creators”
The Swiss are apparently going to hold a vote on a rather radical proposition–giving every Swiss citizen a universal monthly income of 2,500 francs (about $2,750), for an annual income of 30,000 francs (about $33,000). For perspective, this amounts to about twice what an American working for the federal minimum wage would earn annually if he were to work 40 hours a week every week without any breaks. I very much doubt that the Swiss will vote for this proposal due to how very radical it is, but I’d like to discuss the implications it would have for Switzerland if they were to do so and contemplate what a similar program would do in the United States.
I’ve noticed an interesting article floating around the internet. The piece, entitled “Why Generation Y Yuppies Are Unhappy” sees rampant narcissism and self-entitlement as the source of young people’s unhappiness. Does it have a case? Let’s take a look.
I’ve run across some fascinating statistics which, taken together, indicate that the average American earns little more than he did in the late 1980’s. Does this mean the American economy is experiencing a lost quarter century? Let’s take a look.
In the state of Oregon a new mechanism for funding university studies has been proposed. The scheme is called “Pay It Forward“. The idea is that instead of charging students tuition to go to universities, the state will fund their education and then extract payment after the degree is finished as a percentage of their income. For a student with a bachelor’s degree, the expected repayment would be 3% of income for the following 20 years. This presents a very different alternative to the university funding system presently in force throughout the United States, so let’s dissect it. Would Pay It Forward make Oregon’s university system better than it presently is? Is it the ideal alternative, and if not, in what respects does it differ from that ideal?
Benjamin Studebaker 