Wages and the Cost of Living: What Isn’t Being Considered

Wages and the Cost of Living: What Isn’t Being Considered

The case for higher minimum wages across the country is based on the premise that Americans cannot keep up with the cost of living. Recently I came across a post that charged Wal-Mart was irresponsible because a high number of their employees were receiving state benefits. The post claimed that Wal-Mart’s wages are so low…

5 Vital Economics Lessons Your Kids Won’t Get in School

5 Vital Economics Lessons Your Kids Won’t Get in School

While some schools are better than other, generally basic economic lessons are absent from public school curriculum. These are vital lessons needed to understand the world around them. Here are just five lessons I wish someone had taught me in school. 1. Prices Why do some things cost more than others? Why does the price…

10 Left Wing Economic Misconceptions

10 Left Wing Economic Misconceptions

Subsidization- What the Left believes: Subsidization is a viable way to encourage desired economic activity. Alternative energies, organic foods, and anything that is good for people should be subsidized. The Truth is: The subsidization of a product’s or service’s cost by the government is a way to encourage certain activity. However, subsidies have adverse effects….

Are Illegal Immigrants Hurting the US Economy? 3 Facts that may Surprise You

Are Illegal Immigrants Hurting the US Economy? 3 Facts that may Surprise You

Jobs and Wages It is often said immigrants take US jobs away from US citizens and that their inexpensive labor suppresses wages. In actuality, the opposite is true. Economists have found that immigration does not lead to a sizeable decrease in wages, and may actually increase wages and lower prices in the aggregate. The reason…