Tag Archive for 'Economics'

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 […]

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 […]