Must Reads For The Week 11/16/13
Obama Translated, at zerogedge.com. You need your political speak to english dictionary to understand what politicians say.
The Biggest Threat To Minimum Wage Restaurant Workers Everywhere?, at zerohedge.com. When the minimum wage is set above the value produced by the worker, businesses will find a lower cost substitute for the labor.
The Mirical Cure…? zerogedge.com. You can’t counterfeit your way to prosperity.
This Is How The President Plans To Un-Cancel Insurance Policies, at economicpolicyjournal.com. Unintended consequences happen when central planners try to plan what is still a qusi free market activity. It’s the same concept as trying to raise the minimum wage law above the market price.
The Economics Of Obamacare, by Robert P. Murphy, at mises.org. The laws of economics are always in play no matter what plans Governments make.
Top Sectors That Throw Money At Congress, economicplicyjournal.com. They all pay both sides of the aisle, it is called hedging their bets. When the difference is 65% or above, you have a good idea what that which party the better thinks will deliver the goods.
U.S. Oil Production At Highest Level Since January of 1989, by Mark J. Perry, at aei-ideas.org. Free markets work in spite of government plans to make drilling for oil more difficult.
Progressive Government Fails, by Daniel Henninger, at online.wsj.com. Quote from the article, “The essence of modern Democratic progressivism is: “You will participate in what we have created for you, and you will comply with the law’s demands.”
Does Washington Know Best? by Walter E. Williams, at jewishworldreveiw.com. The amount of knowledge needed to centrally plan an economic activity is impossible for Government to know. No one individual or bureau of individuals knows this knowledge in a free market. Prices convey and coordinate this knowledge. When Government messes with prices through regulation, taxes, and subsidies, well just look at the Obamacare mess. It will get worse as they try to fix it through more “planning”.
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