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PowerLinks 01.05.17

The economists have had another terrible year. It’s time for a complete re-think Jeremy Warner, The Telegraph his may or may not be a good time for democracy, but one thing is certain about the past year of political upsets; it’s heaped further humiliations on the economics profession. Continue Reading...

Providence, presidents, and the fundamental fallacy of pop economics

When running for president, candidates often makes outlandish promises about how we’ll benefit once they have power. For instance, vice-presidential candidate John Edwards said in 2004 that, “when John Kerry is president people like [quadriplegic actor] Christopher Reeve will get up out of that wheelchair and walk again.” And in 2008, then-candidate Barak Obama said we’ll look back on his winning the Democratic nomination as the moment “when the rise of the oceans began to slow and the planet began to heal.” The most absurd claims, though, are often about matters of economics. Continue Reading...

PowerLinks 01.04.17

As minimum wage rises, some employers cut back Katie Johnston, Boston Globe Massachusetts has the highest state minimum wage in the country following the $1 increase to $11 an hour that went into effect Sunday, but campaigns are already underway here and across the country for the lowest-paid workers to earn much more. Continue Reading...

Explainer: What you should know about right-to-work laws

Shifts in the partisan composition of state legislatures during the recent election has made it likely that several states will be passing right-to-work bills in 2017. As Melissa Quinn of The Daily Signal notes, in Kentucky, Missouri, and New Hampshire, last month’s election resulted in a flip in party leadership in either governors’ mansions or state legislatures, which put previously defeated right-to-work legislation back on the table. Continue Reading...

A price is a signal wrapped up in an incentive

Note: This is post #15 in a weekly video series on basic microeconomics. The price system allows for people with dispersed knowledge and information to coordinate global economic activity. The global production of roses, for example, reveals how the price system is emergent, and not the product of human design. Continue Reading...

PowerLinks 01.03.17

The fate of religious freedom in the former USSR, 25 years after its collapse Kelsey Dallas, Deseret News When the Soviet Union was dissolved on Dec. 26, 1991, the future looked bright for faith groups. Continue Reading...