Facts & other stubborn things

In the last post I noted that monopsony is definitely not the only and not even really the best theoretical argument for why we see no disemployment effects. Commenters made this point too, including YouNotSneaky, who regularly highlights the limits...

Don Boudreaux has written a long post challenging me by name on monopsony power and the minimum wage. I've addressed all the points in his comment section before, although he does not speak to those directly. Rather than bury responses in another one...

Recently, Don Boudreaux called Robert Reich sophomoric for suggesting that productivity (as the BLS measures it) and real wages should move in tandem. Even an intro student could tell you that wages are determined by workers' marginal product, not their...

I love this graph. When you just graph the monetary base you give the impression that the Fed is (1.) in complete control and (2.) very expansionary. It takes careful argument to walk people back from each of those impressions. Depending on who you're...