Tag: Economics
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I, Pencil: The Movie
by Jason Stotts One of the things that I think people often fail to understand about markets is that literally every good is affected by every other. A change in the price of oil will change the price of wool. A regulation about coffee in Brazil will change the price of cars in America. Everything…
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Minimum Wage Laws
by Jason Stotts This short video does a very good job of explaining the problem of minimum wage laws. One problem that it does not address is this: let’s say under market conditions you employ 100 low-level workers each for $1 per day. In order to rectify this “social injustice” a minimum wage law is…