Acton Institute PowerBlog

PowerLinks 04.20.17

Hike in minimum wage prompts more closings of San Francisco restaurants
Sean Higgins, Washington Examiner

San Francisco’s higher minimum wage is causing an increasing number of restaurants to go out of business even before it is fully phased in, a new study by the Harvard Business School found.

Corrupt Businessmen Looted Venezuela, and Now Many Live Quietly in Houston and Miami
Zach Despart, Houston Press

Venezuela, a country with abundant resources and the world’s largest oil reserves, used to be among Latin America’s wealthiest nations. Now it is on the brink of ruin.

When Low-Wage Workers Are Better than Robots
Justin Murray, Mises Wire

Automation is not always the best course of action and, as cost effective as automation has proved in many areas of our life, we are finding a rise of businesses beginning to automate for reasons other than improved productivity or cost effectiveness.

The Link Between Opioids and Unemployment
Olga Khazan, The Atlantic

A new study finds that as the jobless rate rises, so do drug overdoses.