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Business & Economics BLOG |
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The Case Against California’s Minimum Wage Hike
By: Sebastian Wisniewski
11.30.2007
On January 1, 2008 California’s minimum wage will increase once again, this time from 7.50 dollars per hour to 8.00 dollars per hour. According to the U.S. Department of Labor, that translates into a 6.7 percent increase, compared to a median wage increase of 4.4 percent for the Golden State. That is bad news for Californians and the state’s economy.
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Greenspan's Suggestion for Measuring the Federal Deficit
By: Robert P. Murphy, Ph.D
11.16.2007
A couple of months ago former Federal Reserve Chairman Alan Greenspan ruffled feathers by criticizing the fiscal record of the Bush Administration. Dick Cheney himself responded in a Wall Street Journal op ed. Yet largely lost in the argument was Greenspan’s suggestion that we switch from a cash flow to an accrual method when measuring the federal budget deficit. (See this interview , about 2/3 of the way down.) In this post I explain the difference.
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"Will we run out of oil?" is the wrong question.
By: Robert P. Murphy, Ph.D
11.8.2007
Over the past few months I’ve participated on panels that apply free market principles to the oil industry. We often get the question, “Will we run out of oil?” The answer is “no,” but that’s neither comforting nor alarming because the person asked the wrong question. Really what the person wants to know is, “Will energy become more or less scarce as we continue to use nonrenewable resources such as oil?”
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Online Loans Transform Microfinance
By: Sebastian Wisniewski
11.1.2007
A San Francisco based internet start up is shaking things up in the microfinance world by offering online loans from volunteer individuals and the default rate is well below 5 percent.
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