Minimum wage

14
Jul
By Bob Weeks

Minimum wage laws: Helpful or harmful?

A version of the following appeared in the Wichita Eagle (Wage hike isn't that simple, September 8, 2007). Will raising the minimum wage help or harm low-wage earners? And are the policy goals -- taken in their entirety -- of the groups pressing for a higher minimum wage in the best interest of workers? The great appeal of a higher minimum wage mandated by an act of the legislature is that it seems like a wonderfully magical way to increase the wellbeing of low-wage workers. Those who were earning less than the new lawful wage and keep their jobs after…
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11
Jul
By Bob Weeks

Economic freedom ads debut in Wichita

This week the Wichita Eagle reports that Charles Koch, chairman of the board and CEO of Wichita-based Koch Industries, is starting a local campaign to educate people on the benefits of economic freedom and the harm of government overreach. (Charles Koch launching Wichita campaign about economic freedom, government overreach, July 9, 2013) So far one video advertisement is available, shown at the end of this article. In announcing this effort, a statement at the Charles Koch Foundation reads: “We believe the best way to promote progress and societal well-being is through free societies,” said CKF founder Charles G. Koch. “The…
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04
Sep
By Bob Weeks

Minimum wage increase not a solution

Those who advocate for a higher minimum wage law appear to have the best interests of workers as their concern. But as is almost always the case when government intervenes into markets, the unintended consequences create more harm than good. In the case of the federal minimum wage, we need to remember that this law -- as well-intentioned as it may be -- is not the solution to unemployment or raising the standard of living of workers. The great appeal of a higher minimum wage mandated by an act of Congress is that it seems like a simple and harmless…
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25
Apr
By Bob Weeks

Regulation for the sake of business

There are many examples of how the conventional wisdom regarding regulation is wrong, That wisdom being Republicans and conservatives are in bed with government, seeking to unshackle business from the burden of government regulation. Democrats and liberals, on the other hand, are busily crafting regulations to protect the middle class from the evils of big business. As it turns out, both Democrats and Republicans love creating regulations, and big business loves these regulations. Business often uses government regulation as way to harm its competitors or gain advantage for itself, which is contrary to the principles of free markets and capitalism.…
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19
Apr
By Bob Weeks

Raising minimum wage not the solution

As calls mount to raise the federal minimum wage, we need to remember that this law -- as well-intentioned as it may be -- is not the solution to unemployment or raising the standard of living of workers. The great appeal of a higher minimum wage mandated by an act of Congress is that it seems like a wonderfully magical way to increase the wellbeing of low-wage workers. Those who were earning less than the new lawful wage and keep their jobs after the increase are happy. They are grateful to the lawmakers, labor leaders, newspaper editorialists, and others who…
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02
Nov
By Bob Weeks

The use of regulation by business, contrary to markets

There are many examples of how the conventional wisdom regarding regulation is wrong: Republicans and conservatives are in bed with government, seeking to unshackle business from the burden of government regulation. Democrats and liberals, on the other hand, are busy crafting regulations to protect the common man from the evils of big business. As it turns out, both Democrats and Republicans love creating regulations, and big business loves these regulations. For example, in 2005 Walmart came out in favor of raising the national minimum wage. The company's CEO said that he was concerned for the plight of working families, and…
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05
Jul
By Bob Weeks

Regulation supports business, not capitalism and free markets

There are many examples of how the conventional wisdom regarding regulation is wrong: Republicans and conservatives are in bed with government, seeking to unshackle business from the burden of government regulation. Democrats and liberals, on the other hand, are busy crafting regulations to protect the common man from the evils of big business. As it turns out, both Democrats and Republicans love creating regulations, and big business loves these regulations. For example, in 2005 Walmart came out in favor of raising the national minimum wage. The company's CEO said that he was concerned for the plight of working families, and…
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