Category Archives: Wages

An Open Letter to Alberta Canada

Dear Alberta: The CBC says that Albertans think that non-Albertans do not have sympathy for you. Well, I do. But my sympathy goes beyond the masses of people unemployed. My sympathy extends to you in being duped by economists and … Continue reading

Posted in Demand, Economics, Environment, Labor, Markets, Public Policy, Sociology, Wages | Leave a comment

How Minimum Wage Has Nothing To Do With Economics

Noah Smith thinks that a $15 per hour minimum wage is a bad idea economically. Admittedly, he makes a compelling argument that regions could suffer, and that any minimum wage should be made on a more local level. However, the … Continue reading

Posted in Economic Theory, Economics, Labor, Macroeconomics, Political Economy, Public Policy, Socioeconomics, Sociological Theory, Sociology, Wages | Leave a comment

Walmart and the Statistically Graveyard Dead (Wonkish)

It’s great news that Walmart is going to be raising the floor wages of all of its workers to $10 per hour. However, there are some Wall Streeters that are saying that it’s great for the labor market as a … Continue reading

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An “All of the Above” Approach to Labor Policy

Robert Reich, like so many economists (especially social economists) like to point to one specific issue as to why the back end of our employment numbers are so bad: low labor force participation, low wages, and all that. For Reich, the “reserve … Continue reading

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Add Retail Wages to Retail Inflation

I was recently asked in a Graduate Macroeconomics class what I would do to gauge overall consumption. For any economist that has taken a Macro class, the answer was easy, and stock: use the GDP Implicit Price Deflator. But I, … Continue reading

Posted in Demand, Economics, Labor, Macroeconomics, Wages | 1 Comment

Minimum Wage and the Smoke-Making Machine

Sometimes where there is smoke, especially in data, there is just a smoke making machine. Sometimes however, there is a raging fire inside a building that no one dare open the door to. Case in point is Janet Yellen’s dire … Continue reading

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A Bigger Piece of the Unemployment Pie

Running through some Labor data, I came across this: 40% of all the payouts for the last twenty years in unemployment benefits happened in the last 5 years – when the Great Recession “officially” ended. This isn’t even accounting for … Continue reading

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