Quote of the Day

This study investigated the antipoverty efficacy of minimum wage policies.  Proponents of these policies contend that employment impacts are negligible and suggest that consumers pay for higher labor costs through imperceptible increases in goods prices.  Adopting this empirical scenario, the analysis demonstrates that an increase in the national minimum wage produces a value-added tax effect …

The Worst Analysis Regarding ISIL that You Have Ever Seen

Courtesy of Marie Harf, who actually has a job in our State Department, and who said the following regarding the war with ISIL: . . . We can not win this war by killing them. We can not kill our way out of this war. We need in the medium and longer term to go after …

Alternative Quote of the Day

Behold. A lot of policy problems would cease to exist if people recalled that "poverty is the normal condition of man," and strove with urgency to combat poverty through innovation, creation and--yes--creative destruction whenever appropriate. But somehow, the lessons that people like Robert Heinlein try to impart keep getting forgotten.

What We’ve Learned about All of the People Who Laughed at Joni Ernst

1. There are a lot of people who talk a good game when it comes to combating poverty, but who do not understand the history of poverty in America, or its pernicious effects upon those whose lives have been touched by poverty. 2. There are a lot of people who can't even manage to talk …

How Minimum Wage Hikes Hurt Workers

Behold. Key observation from Tyler Cowen: "I would be skeptical or agnostic about some of those particular estimates, but surely the general point holds, and is hardly ever mentioned by advocates of hiking the minimum wage." I don't suppose that latter fact is going to change anytime soon. Again, let's do something for the middle …

Quote of the Day

. . . we should not have a major party promoting, as a centerpiece initiative and for perceived electoral gain, a law that might put half a million vulnerable people out of work, and that during a slow labor market. --Tyler Cowen. He is quite right, of course.

The CBO’s Minimum Wage Analysis Should Surprise Precisely No One

The Congressional Budget Office has come out with an analysis of what might happen if the minimum wage is increased to $10.10. That analysis consists of the following major points: A minimum wage increase "would significantly boost income for about 16.5 million workers, raising their income by $31 billion and potentially pulling nearly 1 million …

Reform Cannot Come Fast Enough to Iran

I'm sure that Iranians will be the first to tell you as much: In a rare expression of regret by an Iranian official, President Hassan Rouhani has said that he is sorry for any troubles with the distribution of a food ration to the poor, following reports that three people have died waiting for the goods in …