Supply and Demand (in that order)

Tyler Cowen and John Cochrane think that the minimum wage traces out a labor demand curve.  It does not.  There are many ways that a comp...

According to the Department of Labor, it is now adding 4.2 million workers and their employers to those required to obey detailed federal r...

Copyright, The New York Times Company Fundamental changes in economic performance since the John F. Kennedy presidency help explain why ec...

Copyright, The New York Times Company The current federal minimum wage of $7.25 an hour is increasingly creating economic damage that need...

In the next several days I will be reviewing the page proofs of my forthcoming book The Redistribution Recession . You can pre-order a h...

Copyright, The New York Times Company Last week I explained how I estimated that the July 2009 federal minimum-wage increase reduced nation...

Copyright, The New York Times Company Another federal minimum-wage increase would not, as some proponents promise, create jobs, but would re...

Copyright, The New York Times Company Many teenagers cannot find work this summer , victims of a weak economy and a situation made worse by ...

Copyright, The New York Times Company As I’ve discussed before , national trends suggest that the sharp fall in part-time work during the la...

Textbook economic theory says that the minimum wage reduces employment according to (a) the gap between the minimum and the equilibrium wage...

Take a look at this video of a discussion between Milton Friedman and David Brooks (and two others). Turn to the 38:15 mark. Wow! Has he c...

The Great Recession of 2008-9 has brought forth some intriguing claims about public policy and the nature of factor supply. Using “New Keyne...

The list of employment-reducing public policies grows yet again: Extra taxes for multi-national corporations (see yesterday's Wall Stree...

As part of my playoff-watching hangover, I saw 60 Minutes for the first time in years. The show featured a story about American Somoa, with...

Copyright, The New York Times Company After initially increasing by almost three million during this recession, part-time employment fell sh...

Copyright, The New York Times Company Our recession predictably continues to be one in which real gross domestic product and spending outper...

Copyright, The New York Times Company Some economists have been recently discussing a “paradox of toil,” meaning that an increased willingne...

Copyright, The New York Times Company Economists have debated the employment effects of the minimum wage. A recent study of obesity now weig...

Copyright, The New York Times Company Teenage employment has fallen sharply since July. The most recent minimum wage hike may be an importan...

A couple of years ago, a number of "leading economists" endorsed the federal minimum wage law that legislated the current minimum ...