The editorial board of the New York Times had it right 27 years ago when it wrote, “The Right Minimum Wage: $0.00.” There’s a virtual consensus among economists that the minimum wage is an idea whose time has passed. Raising the legal minimum price of labor will result in an increase in unemployment and it will be the least skilled workers, those most in need of work, who will be the first to lose jobs and the last to be hired. That would be the tragic unintended consequences if government forces the new law upon businesses.
Seventy years ago this month, on March 10, 1944, “The Road to Serfdom” by Friedrich A. Hayek was first published in Great Britain. For seven decades it has continued to challenge and influence the political-economic landscape of the world. Hayek delivered an ominous warning that political trends in the Western democracies, including America, were all in the direction of a new form of servitude that threatened the personal and economic liberty of the citizens of these countries.
The Heartland Institute last week hosted a luncheon lecture with author and presidential scholar Tevi Troy, who talked about his new book, What Jefferson Read, Ike Watched and Obama Tweeted: 200[...]
The full bill for Obama’s failed economic policies has yet to arrive. But no such explosion of debt has ever escaped a day of reckoning, and no such monetary surge has ever had a happy ending.
America 3.0: Rebooting American Prosperity in the 21st Century tells the story of our nation’s government as crushingly expensive, one that is failing at its basic functions and unable to keep its promises. Such an unworkable and out-of-control government cannot continue as the status quo.
No President in modern U. S. history has more self-consciously evoked the images of his predecessors than the incumbent, Barack Obama. When the first-term Senator in 2007 formally announced his[...]