Shocking Surprise: Minimum Wage Hikes Increase Unemployment

I know this will come as a real shock to our regular readers, but it turns out that increasing minimum wage doesn’t actually help the poor very much. It just increases the workload on fewer employees. In other words, it stimulates unemployment: The study published by the National Bureau of Economic Research found that minimum […]

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Bill Gates Apparently Doesn’t Understand How the Private Sector Works

Given the amount of money Bill Gates has made, one would think he already understood how the private sector works. But his recent comments concerning green energy research and the public and private sector makes me think he has no idea what he’s talking about: Yes, the government will be somewhat inept… But the private […]

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Does Anyone Really Know What’s Going on with The Economy?

“The Economy” might just be my least favorite over-simplification ever, right behind “Science,” “they say,” and “the Government.” What exactly is The Economy? Before you react with, “Well, of course everyone knows what the economy is,” I just want you to think about it. Define The Economy. It’s kind of hard, right? The problem is […]

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Germany is Killing Itself with “Satisfying” Baby-Free Sex

Germany has a serious population problem. This year marks its lowest production of babies ever, and previous years were already particularly infertile. Pundits warn that Germany will soon start to reap the bitter consequences of its demographic suicide. But at least Germans are having “satisfying” sexual experiences: Germany is the 11th most sexually satisfied country […]

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Bill Gates Correlates High Taxes with High GDP

Recently Bill Gates questioned the supply-side, tax-cut economic theory by bringing up that the American period with the highest GDP growth in recent memory, the 60s, also had one of the highest marginal tax rates in recent memory, at 90% (for most of the decade anyway). He was careful not to say that the high […]

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The Difference Between the Lottery and Wall Street

Yesterday, I wrote an article about a deceptive shift of language from “income inequality” to “income inequity.” In it, I quoted Barack Obama, who recently claimed that hedge fund investors were the “nation’s lottery winners.” I think his dismissive assessment deserves another look, since it represents the attitude so many Americans have toward the wealthy. […]

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Income Inequality or Income Inequity? The Difference a Word Can Make

I have been noticing a trend in recent discussions of income inequality. Commentators have started replacing income inequality with income inequity. At first, I thought this subtle shift was a result of ignorance. In our word-impoverished culture, the right words get swapped for incorrect similar-sounding ones all the time (e.g., “disinterested” for “uninterested”). But as […]

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