Tuesday, January 28, 2014

Obama's (illegal?) minimum wage increase and other assorted links

1. Cato article on why raising the minimum wage will cause significant pain and suffering and won't do any good.


The law of demand is more powerful than the minimum wage law: when the price of anything, including labor, goes up, the quantity demanded goes down, other things constant.  No one has ever disproven this economic law—and neither the President nor Congress can overturn it.

2. Dartmouth to offer MOOCs


The Ivy League school in Hanover said Thursday it has joined edX, a non-profit online learning platform that provides courses from elite colleges for a mass audience. Students of any age in any location can take courses free of charge without academic credit.

3. Obama to raise the Federal minimum wage to $10.10/hour without Congressional approval.

By raising the minimum wage by executive order, he's raising taxes.  Everyone will either have to pay higher taxes now or in the future to fund this.

Didn't we fight a war 230 years ago so we wouldn't have a dictator make decisions unilaterally?

4. Another story on the economic impact of Super Bowl.


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