John A. Parnell, Ph.D.
The state of Washington has the highest minimum wage in the union. Now there is a movement in Seattle to raise the minimum wage to $15. (see www.cnbc.com/id/100971430). Proponents of the increase are making the usual arguments. Low-wage workers aren’t being compensated fairly by evil capitalists and they “deserve a raise.” Some economists even claim […]
Read MoreThe U.S. Postal Service just reported a net quarterly loss of $740 million, as loss that some are actually calling a success. The New York Times notes in its headline that the USPS didn’t lose as much as in the previous quarter ($1.9 billion). In the opening line, it referred to “better-than-expected performance for the […]
Read MoreIn my last post I pointed out that honest, successful companies are not obligated to “give back” to society because society never gave them anything in the first place. Barry raised a good question, however, asking if companies that receive taxpayer bailouts should be giving back. Some have argued for government regulation of executive pay […]
Read MoreFew politicians, pundits, and educators seem to be able to defend capitalism effectively without apologizing for the prosperity is creates. I like to point out pithy, concise, and cogent articles that do so whenever I see them. Here’s a great one in a recent issue of Forbes. www.forbes.com/sites/objectivist/2013/03/12/give-back-is-one-of-the-worlds-most-impoverishing-commands/ Authors Yaron Brook and Don Watkins attack […]
Read MoreThe dominoes have been falling since the passage of Obamacare. Acknowledging impending chaos in both the “health care exchanges” and the labor market, the President decided to delay enforcement on businesses until 2015. When asked about business compliance problems, a White House spokesman simply stated, “they’ll adjust.” I agree, but I’m sure my idea of […]
Read MoreI’ve enjoyed watching premium electric carmaker Tesla’s ongoing political battles. According to Consumer Reports and others, Tesla’s cars perform well, but dealers that sell other makes are trying to ban sales of the product at the state level because the carmaker has bucked the traditional franchise dealer system in favor of selling direct to the […]
Read MoreOn three different instances last week I heard progressives echo the same argument to justify government intervention. President Obama announced a plan to attack coal and halt global warming, Paul Krugman defended the Fed’s massive QE policy, and a litany of Democrats (and a few Republicans) cackled for the Senate’s immigration reform plan, all on the […]
Read MoreGM is recalling nearly 200,000 SUVs because the master power door and window module in the driver’s door can short out and catch fire. This is a serious recall. According to NHTSA documents, GM says owners should park the trucks outdoors until the module is repaired. See www.usatoday.com/story/money/cars/2013/06/16/general-motors-chevrolet-buick-saab-gmc-isuzu-suv-recall/2428061/ for details. Rewind several years to DOT Secretary Ray […]
Read MoreI just returned from a conference dedicated to advancing education on liberty and capitalism. From a political perspective, one thing stood out in my mind. Most of the participants–economists, historians, philosophers, and executives–probably vote Republican by default, but very few (myself included) assertively identify with either of the major parties anymore. In fact, the overwhelming […]
Read MoreThis brief post is a follow-up to an earlier one and begins with the following excerpt from a Reuter’s story posted on May 23: Stocks dropped on Thursday, with the S&P 500 on pace for its first back-to-back daily drop in a month amid investor concerns the U.S. Federal Reserve’s stimulus may be scaled back […]
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