This blog will show that financial history is both intrinsically interesting and of crucial importance to many aspects of public policy, ranging from Social Security to construction to macroeconomic stability.
Friday, January 09, 2015
Update on Minimum Wage
UPDATE 1/9/2015: As of 1 Jan. 2015, the famous "three dollar movie theater" in Sioux Falls now charges $3.50! Coincidence? Of
course this would be an example of a price response rather than a
reduction in employment but as we know from Bastiat's essay, "That Which Is Seen, and That Which Is Not Seen," employment somewhere/everywhere will be negatively effected by the price increase.
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