This is an excellent summary of what is a terrible idea – raising the national minimum wage. It is most bad for the people it ostensibly helps. Biden’s recommendation on this makes me wonder about the quality of his economic advisors.
Stakeholder Capitalism is morphing into “woke” capitalism and it is a terrible idea. Mr. Abela does a good job in defining why that is the case. Obviously, I agree with him.
This is a pseudo science essay based on the assumption that income inequality is, in itself bad, and can be reduced by the actions of corporations. Further, those actions can be assessed using an ESG framework to analyze the performance of companies. For those yet not “woke”. ESG stands for Environmental, Social, Governance. Beyond that, the corporations which score higher will perform better and yield a higher return for their shareholders. The ‘”logic” goes on that this will result in reduced inequality. I’m including this blog to illustrate that stupidity has no bounds, is present abundantly in PhDs. and can be masked by logical leaps that defy imagination. It also can be adopted as sound policy and affect all of us if this kind of thinking gets translated into law or regulation. A little contest: Lets see who can identify the worst flaw. I will start out: The first assertion is that inequality is bad, it can be measured by the GINI coefficient and the U.S. is the most unequal of the major western countries. What’s bad about this is that the U.S. has the highest standard of living of these same countries.
Brian Ried compiled an excellent book of charts that illuminate understanding our economy and provide useful data to that end. In this article that appeared in the National Review, he abstracted a bunch of widely-held beliefs from his book and described why these beliefs are wrong. At the bottom of the post, I inserted link to the City Journal of the Manhattan Institute where you can look at the data yourself.
Phil Gramm is a very astute economist as well as a successful politician. Here’s his take on Biden’s economic policy and its implications for our economy.
Biden claims he doesn’t see red or blue states, only united states. He’s either ignorant of how is policies would affect different states or he’s a bald faced liar. I didn’t get around to posting this editorial for a while, but its analysis is still germane and correct.
Kevin Hassett and his colleagues have analyzed Biden’s tax and regulatory plans to estimate the long term effects on our economy. Here, I just post the Executive Summary. For those who want to study the entire report, go to Hoover.org and search for this report.
I got to know Kevin when he was head of the Economics Policy group at American Enterprise Institute. He’s exceedingly bright, not ideological and completely fact and analytic based. I admire him and his work. This essay is the first of what he says will be a series on various aspects of a likely policy agenda of a Biden administration, if we are so unfortunate as to have this pliable, mediocre man become president. Kevin’s essays will be interesting and thoroughly researched. To make it easy for the reader of this blog to find them, I’ve set up a new category “Biden’s Policies” which will hold all of Kevin;s essays.
Eberstadt is an absolutely brilliant scholar, whose opinions are founded in deep analysis and understanding. This is a written version of the speech he gave at the Annual Dinner at American Enterprise Institute, honoring the late Irving Kristol. This is well worth reading and then reading again. It is a hopeful message.
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