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The Minimum Wage Forces Low-Skill Workers to Compete with Higher-Skill Workers

The Minimum Wage Forces Low-Skill Workers to Compete with Higher-Skill Workers

The efforts underway by the Service Employees International Union, and its political and media allies, to raise the minimum wage from $7.25 to $15 per hour would, if successful, cause major unemployment among low-skilled workers, who are the supposed beneficiaries of those efforts.

The reason is ...

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Reads: 2268

Is America About To Reach A Breaking Point? Anger Grows As Unemployment Benefits Get Cut

Is America About To Reach A Breaking Point? Anger Grows As Unemployment Benefits Get Cut

In America today, there are close to 50 million people living in poverty and there are more than 100 million people that get money from the federal government every month.  As the middle class disintegrates, poverty is climbing to unprecedented levels.  Even though the stock market has ...

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Reads: 2383

The Stock Market Has Officially Entered Crazytown Territory

 The Stock Market Has Officially Entered Crazytown Territory

It is time to crank up the Looney Tunes theme song because Wall Street has officially entered crazytown territory.  Stocks just keep going higher and higher, and at this point what is happening in the stock market does not bear any resemblance to what is going on in the overall economy ...

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Reads: 2304

How Government Cutbacks Ended Sweden’s Great Depression

How Government Cutbacks Ended Sweden’s Great Depression

During the recent financial crisis, Sweden has emerged as one of very few financially sound economies. The country’s strong position, setting it apart from most Western nations, makes it an interesting example of what could — or should — have been done. Indeed, Paul Krugman, the former economist ...

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Reads: 2189

Inflation Can Cause an Infinite Effective Tax Rate on Capital Gains

Inflation Can Cause an Infinite Effective Tax Rate on Capital Gains

Introduction

The United States' federal top capital gains tax rate is now 23.8 percent due to two tax increases at the start of 2013.[1] This is problematic, because the capital gains tax creates a bias against savings, slows economic growth, and places a double-tax on corporate profits. Although ...

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Reads: 2155

Who Needs the Debt Ceiling?

Who Needs the Debt Ceiling?

US lawmakers reached a budget deal this week that will avert the sequester cuts and shutdowns. These fiscal “roadblocks” supposedly damaged investor confidence in 2013, although clearly no one told equity investors who’ve chased the S&P 500 up 26 percent this year. But even so the budget deal ...

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Reads: 2009

Top Hedge Fund Manager Tom Conrad on Global Equity Trends and Blown-Up Markets

Top Hedge Fund Manager Tom Conrad on Global Equity Trends and Blown-Up Markets

Introduction: Thomas D. Conrad, Ph.D. is currently a hedge fund manager and president of Financial Management Corporation. He received his Masters Degree in Accounting, Statistics, and Financial Management from The University of Maryland in 1961 and his Ph.D. in Business Administration from ...

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Reads: 2459

The NAFTA Myth

The NAFTA Myth

Editor’s Note: The North American Free Trade Agreement (NAFTA) was approved by Congress 20 years ago this month. Rothbard’s essay on NAFTA, reprinted below, is available in the collection Making Economic Sense.

For some people, it seems, all you have to do to convince them of the free enterprise ...

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Reads: 2062

The Fed Must Inflate

The Fed Must Inflate

The Fed is busy doing everything in its considerable power to get credit (that is, debt) growing again so that we can get back to what it considers to be "normal."

But the problem is that the recent past was not normal. You may have already seen this next chart. It shows total debt in the U.S. as a ...

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Reads: 1493

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