My GMU Econ colleague Garett Jones calls it “basic microeconomics.” (It might also be called a sensible prediction from the real denizens of the reality-based community.) Garett is correct: when the cost of doing X rises, people will do less X. Obamacare raises businesses’ costs of employing full-time workers, so businesses will employ fewer full-time workers than otherwise. Garett is also correct that, as a result, economic growth will be slower and less robust than otherwise. No amount of cheap demonizing of Obamacare’s opponents will change these facts.
Check out these inspiring short videos that earned prizes in AEI’s contest for the best videos that make a moral case for free enterprise. Congratulations to all the winners!
David Henderson very much likes the revised edition of Steve Landsburg’s landmark volume The Armchair Economist. (I very much like it, too.)
This Center for Freedom & Prosperity video assesses Obamanomics. The assessment isn’t favorable.