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Tag Archives: minimum wage
More On “Fair” Wages
In my last post, I mentioned that a libertarian, if asked to estimate the “worth” of an hour of unskilled labor, would likely answer “We can’t know, but probably less than $7.50.” To me, the logic behind this seems pretty … Continue reading
Subjective Value And “Fair” Wages
Tom Woods has written some excellent posts on recent protests by fast-food workers here and here. He covers a lot of ground in these, but I just wanted to elaborate on one particular issue that stood out to me. Question: … Continue reading
Posted in General Theory
Tagged Economics, fair wage, Free Markets, minimum wage, prices, subjective value
2 Comments
Income Doesn’t Matter
A few weeks ago, you couldn’t swing a stick without hitting on a discussion about raising the minimum wage. One of the more nuanced arguments coming from those in favor of raising it involved how productivity has risen, but the … Continue reading
Posted in Blog Link
Tagged Bob Murphy, Economics, elizabeth warren, fairness, income, minimum wage, productivity, standard of living
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Notes on Costco vs Wal-Mart
A meme has been going around Facebook regarding one of the left’s favorite comparisons, Costco and Wal-Mart. You see, Costco pays a “living wage” and offers generous benefits and its employees frolic in sunshine and fairy dust. Evil Wal-Mart on … Continue reading
Posted in News Commentary
Tagged business, business ethics, costco, daily beast, Economics, huffington post, living wage, make-work, minimum wage, shareholders, slate, stakeholder model, wal-mart, welfare
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Labor Markets Aren’t Special
The laws of economics are universal. They apply to all markets, everywhere, at all times. At times, governments or other hostile forces may restrict certain markets in particular ways to cause them to be unique, but the general laws still … Continue reading
Posted in General Theory
Tagged Economics, Free Markets, labor markets, minimum wage, outsourcing, price controls, supply and demand, unemployment
3 Comments
Why Isn’t the Working Families Party Paying Its Employees a Living Wage? | All American Blogger
Why Isn’t the Working Families Party Paying Its Employees a Living Wage? | All American Blogger. You just can’t make stuff like this up. Do as I say, not as I do, and such…
Posted in News Link
Tagged Economics, living wage, minimum wage, occupy wall street, working families party
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The Minimum Wage and Indifference
We Can Predict The Effects Of Seattle’s $15 An Hour Minimum Wage. In light of Seattle’s recent decision to raise its minimum wage to $15 an hour, numerous free-market writers have done an excellent job detailing the long list of … Continue reading →