Economics

Minimum Wage Hike to $15 Wipes Out Jobs in Illinois and New York 0
- Economics
- March 5, 2019
Big minimum wage hikes wipe out a lot of jobs. Illinois recently enacted a $15 minimum wage, a large increase in the minimum wage that will be phased in over several years. And businesses are already announcing plans to close up, move out of the state, or curb their expansion in the state. The Daily Gazette
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Don’t Write Off Young ‘Socialists’0
- Economics
- March 4, 2019
In his State of the Union address this year, president Trump warned of the dangers of socialism. But is there any substance to that worry? Rep. Ocasio-Cortez (D-NY), a self-declared socialist, has made headlines with her Green New Deal proposal. And more recently, Sen. Bernie Sanders (I-VT), who identifies as a democratic socialist, announced he
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New York City Experienced Worst Decline in Restaurant Jobs since 9/11 After $15 Minimum Wage Win 0
- Economics
- March 1, 2019
The Big Apple’s fast-food industry, The New York Times recently reported, has long served as a laboratory for progressive politicians and the nation’s labor machine. But new economic research suggests their latest experiment is not going as planned. Data show that following the labor movement’s “Fight for $15” victory, which imposed steep annual increases in
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My Family Fled Communism When I Was 6. Now We Fear Our Nightmare Has Followed Us Here 0
- Economics
- February 28, 2019
Following the State of the Union address, I found the state of the nation surreal. I kept skimming past articles about the Democratic Party’s proposed economic stimulus packages, collectively known as the Green New Deal. They propose to fund unsustainable sectors like solar panels—which are already heavily government-backed—by targeting more self-sufficient industries, like meat production.
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How Government-Guaranteed Student Loans Killed the American Dream for Millions 0
- Economics
- February 27, 2019
In Basic Economics, Thomas Sowell wrote that prices are what tie together the vast network of economic activity among people who are too vastly scattered to know each other. Prices are the regulators of the free market. An object’s value in the free market is not how much it costs to produce, but rather how
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The Double-edged Sword of Economic Sanctions Against Venezuela 0
- Economics
- February 27, 2019
Venezuela is going through one of the worst economic crises of the last century. According to the International Monetary Fund (IMF), Venezuela’s GDP has fallen nearly 50 percent since 2014. To understand the magnitude of Venezuela’s economic downturn, Spain’s GDP fell by 30 percent… during the Spanish Civil War of the 1930s! In other words, a
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