External Blogs

Title Channel Posted
Thoughts On the Right NOT to Contract

(Don Boudreaux)

TweetThe following record of my stream-of-consciousness thoughts was inspired by the wedding-cake case being heard today by the United States Supreme Court and by a stimulating conversation that I had with some of my GMU Econ colleagues, especially Virgil Storr. ……. Jim... more

Cafe Hayek 12/05/2017 - 11:22am
Bonus Quotation of the Day…

(Don Boudreaux)

Tweet… is from page 253 of the 1991 Robert Schalkenbach Foundation edition of Henry George‘s 1886 volume, Protection or Free Trade: Take, for instance, the question of the effects of machinery.  The opinion that finds most influential expression is that labor-saving... more

Cafe Hayek 12/05/2017 - 12:02pm
Some Links

(Don Boudreaux) find a significant impact of increasing minimum wages on prices in grocery stores. Our baseline estimate of the minimum wage elasticity of grocery prices is 0.02. This magnitude is consistent with a full pass-through of cost increases into prices. We show that price adjustments... more

Cafe Hayek 12/05/2017 - 5:10am
Quotation of the Day…

(Don Boudreaux)

Tweet… is from page 164 of Richard McKenzie’s excellent 1985 book, Competing Visions: To suggest, in the words of political scientist Chalmers Johnson that “the United States is in danger of ending the 20th century as the leading producer of ICBMs and soybeans, while the... more

Cafe Hayek 12/05/2017 - 8:20am
A Parade of Flawed Arguments for Minimum-Wage Legislation

(Don Boudreaux)

TweetHere’s a letter to the Wall Street Journal: San Francisco City Supervisor Jane Kim swings and misses at Michael Saltsman’s argument against the minimum wage (Letters, Dec. 6).  First, she notes that San Francisco’s overall unemployment rate is lower than the national... more

Cafe Hayek 12/05/2017 - 8:50pm
A Note on Minimum Wages and Monopsony Power

(Don Boudreaux)

TweetI’m sure that the following, brief point must have been made before; perhaps I myself have made it (although, if the latter, I’ve forgotten).  Nevertheless, it’s worthwhile to make once more this particular point about the relation between minimum-wage legislation... more

Cafe Hayek 12/06/2017 - 10:01am
Make America Great Again…

(Don Boudreaux)

Tweet… by taking full advantage of the global division of labor. Yesterday I was chatting with my friend Mike Long, who recently became CEO of AnyDATA.  AnyDATA’s main product line consists of electronic devices that plug into automobiles’ computer systems and wirelessly... more

Cafe Hayek 12/07/2017 - 11:39am
Some Probing Questions for Protectionists

(Don Boudreaux)

TweetSuppose that Toyota, starting in 2018, offers for sale in America a car that reduces its occupants’ risks of being killed or injured by at least 90 percent compared to any other automobile that is or ever has been sold on the market.  Suppose further that this car,... more

Cafe Hayek 12/07/2017 - 6:04pm
The Ultimate Monument to Status Quo Bias is Protectionism

(Don Boudreaux)

TweetHere’s a letter to the Wall Street Journal: Critical of your casting “the Bush administration’s steel tariffs in a negative light,” Dale Fruman insists that those tariffs “saved not only the U.S. steelmaking industry, but innumerable steel fabricators” (Letters, Dec... more

Cafe Hayek 12/07/2017 - 7:28am
Is Free Trade Unethical?

(Don Boudreaux)

TweetHere’s a letter to a high-school senior: Mr. Kimbrough: Your teacher is mistaken to assert that, because “free trade causes innocent people to lose jobs,” the case for free trade “is sound economics, but ethically is questionable.”  In making this assertion, your... more

Cafe Hayek 12/08/2017 - 12:37pm