Mark Perry reposts his one-armed-worker minimum-wage fable. Mark’s fable makes clear that proponents of the minimum wage are enemies of the lowest-skilled workers. And this reality is unchanged regardless of the motives of minimum-wage proponents as well as of whether or not the victims of minimum wages understand that they are victims of this cruel policy.
Arnold Kling emphasizes a point that ought to be – but isn’t – understood by all economists who study macroeconomics. (Thought is horribly muddied by the aggregates that remain prominent in modern macroeconomic theory and policy analyses.)
Advocating more diversity [on corporate boards] just for the sake of creating boards that “look like America” (as Bill Clinton famously described his cabinet) makes many people feel good. But Law professors, bureaucrats, and politicians don’t have much if any idea what business management entails, and they won’t suffer any of the costs if boards stocked with people chosen mainly to meet a quota push the company into poor decisions.