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Category Archives: Labor

In a previous post, I suggested that what we call sweatshops are factories where workers are not treated well, but that these sweatshops offer workers a better life than they had, otherwise the workers would not agree to work there.  The pay in these factories, while quite low compared to U.S. and advanced economies’ pay […]

About three weeks ago, this story broke about rationing of appointments and treatment in a Phoenix VA hospital facility, rationing which has supposedly led to at least 40 deaths as these vets awaited treatment.  The rationing is due to two factors: 1) global budgeting of the VA hospital system capping total spending and 2) a lack of […]

The shortages in Venezuela, as I have discussed in previous posts, are due to price ceilings which suppress the quantity offered on the market while encouraging extra consumption. Low prices also encourage exports of those price controlled items and discourage imports.  As a result, people in Venezuela are continuously frustrated in their basic attempts to buy […]

Here is a thoughtful critique of the President’s minimum wage proposal, and this is from his former Chair of the President’s Council of Economic Advisers, Christina Romer that appeared in the New York Times on 3-2-13.  Of course, a few days ago, I posted this piece on the minimum wage here on Bastiat’s Bastions.  So, […]

Robert Higgs is an economic historian who questions a lot of “conventional wisdom.”  Overcoming the intellectual inertia of conventional wisdom is very difficult.  Take a look at this video of his lecture on the Great Depression, where he examines the idea that war brings about prosperity, especially examining the case of World War II supposedly […]

Recently, the unemployment rate has continued to drop, falling from 8.3% in February to 8.2% in March.    Good news? Maybe, but maybe not.  See this press release from the Bureau of Labor Statistics on the most recent employment and unemployment statistics.   In our look at measures of unemployment (in ECON 212 and ECON 255), we […]

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