Wealth inequality in Europe and the U.S., 1810-2010 (Source — .pdf, 1.2MB) The more I learn about wealth and income inequality, the more I realize I didn’t know — and still don’t know — and the more it’s obvious that many other people don’t know. Rampant confusion reigns. In my observation, most laypersons don’t understand[…]
An actual letter to the editor Click image to see larger Click here to see source This one isn’t actually a “meme”, per se, but it is being shared as one on social media, so I’ll have a go at it in this edition of Stupid Meme Saturday. (Click the image at right to see[…]
I mentioned recently that “I’ve never been a fan” of Hillary Rodham Clinton, and so I set out to examine why. I’ll also probably vote for her, despite disagreeing in several places — because no one else with a chance of getting elected even comes close. When I first heard of her (early 1990s), I[…]
As workers and Democrats continue to ask for a minimum wage increase (recently fueled by a Walmart food drive — for its own employees — and a McDonald’s suggestion that employees sell their possessions), I still haven’t seen anyone point out how nonsensical a national minimum wage is.
You’ve probably heard about the recent strikes by fast-food workers (an example story, from USA Today). They’re asking that the federal minimum wage be more than doubled, from $7.25 per hour to $15 per hour. My opinion — not as an economist, but as someone who’s worked at minimum wage for many years, through several[…]
In President Barack Obama’s State of the Union address Tuesday, he focused partly on generating “a rising, thriving middle class”. Oddly, in that part of his speech, he suggested raising the federal minimum wage to $9 per hour (a 24% increase from the current $7.25 per hour). In the News: Obama: Minimum Wage Increase Will[…]
I read recently [expired link removed] that American workers are working longer hours than workers in all other developed nations, and our average hours of work per year are actually increasing, unlike in other countries, where this number has been steadily dropping. Is this a surprise to anyone? Also, our wages are falling. This isn’t[…]