If PBS patrons are to take John Komlos’s anecdote about coffee prices seriously as an argument in support of raising the minimum wage, here are other anecdotes that tug powerfully in the opposite direction. (I apologize for not remembering the kind person who sent this link to me.)
I haven’t yet read Ricardo Pazos’s paper on minimum wages, but it appears to be promising.
Matt Ridley wisely warns us not to trust “expert” predictions. A slice:
And unlike in climate forecasting, prediction of human trends is difficult because discovery and innovation keep throwing spanners in the works. “Science is the belief in the ignorance of experts,” said the physicist Richard Feynman, reflecting on the tendency of research to explode complacency and embarrass experts who tell you what’s impossible.
Bob Higgs advises: first, do no harm.
Incoming GMU Econ PhD student Jon Murphy understands trade.
Never accidentally spill your drink again! (HT Thomas)
