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Labor and Wages
The salaries of pro athletes has little to do with athleticism and everything to do with the entertainment the public receives from them.
Booms and BustsLabor and WagesBusiness Cycles
Here are the fateful words that set the stage for years of high unemployment: “We believe in the principle of high wages.”
Price controls, tariffs, and wage controls are politically attractive as such powers are to a ruling clique, but they make no sense economically.
With tariffs, favored industries receive more and the entrepreneurs receive less, lowering their profits and making them less likely to take future risks.
Labor and WagesValue and Exchange
There is only one way that leads to an improvement of the standard of living for the wage-earning masses: an increase in the amount of capital invested.
The EntrepreneurLabor and Wages
Countries with the highest levels of robotization have the lowest unemployment rates.
Labor and WagesPolitical TheoryValue and Exchange
The division of labor is what made the West rich and has kept it rich. It's telling that Marx planned to abolish the division of labor altogether.
Free MarketsLabor and Wages
So impressive is compensation in the U.S. that even fast food businesses are bidding up wages to compete.
Big GovernmentLabor and WagesU.S. Economy
If Sanders's job-guarantee program were adopted, the only silver lining to the dark cloud is that it would provide additional evidence that government programs don’t work.
Labor and WagesProtectionism and Free Trade
What the labor group is conveying to the world is that it hates progress.