Utopia, you are standing in it!

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Funemployment

June 6, 2018


Coase to Coase AM

When a great thinker like Scott Alexander designates the strongest argument for a policy you oppose, you should certainly pay attention:

This strikes me as the strongest argument for the minimum wage and other job-killing labor regulations: that they are turning otherwise-miserably-employed people into unemployed welfare recipients.

It’s rare, and refreshing, to read arguments for the minimum wage that acknowledge even the potential for disemployment effects, let alone acknowledge them as a feature rather than a bug.  The problem with Alexander’s analysis is that, ceterus parabus, we would expect the minimum wage to disemploy workers in less miserable jobs.

Imagine an economy with two jobs for low skilled workers: elevator attendant and fry cook.  Let’s assume for simplicity that demand for fry cooks and elevator attendants is roughly equal.  However, since fry cooks have to slave over a hot grill rather than in an air-conditioned elevator, the supply of fry…

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Originally posted on UK Constitutional Law Association:
There is no shortage of stories on Italian institutional crises originated in the context of a parliamentary system with multi-party inclinations and a misfit electoral law. And Italy is not even an isolated case of hard processes of formation of government after troubled elections: the cases of the…

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Originally posted on The Inquiring Mind:
https://youtu.be/7BUGx2k8g2U From Wikipedia The Great War is a 26-episode documentary series from 1964 on the First World War. The documentary was a co-production of the Imperial War Museum, the British Broadcasting Corporation, the Canadian Broadcasting Corporation and the Australian Broadcasting Commission. The narrator was Michael Redgrave, with readings by…

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