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by Michael Spencevia Project Syndicate
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interview with Stephen Habervia Wall Street Journal Live
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by Lee Ohanian, Edward Prescottvia Wall Street Journal

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Analysis and Commentary

Are Career-Tech Students Preparing For Jobs That Actually Exist?

by Amber M. Northern, Michael J. Petrillivia Thomas B. Fordham Institute
Wednesday, April 3, 2019

Not long ago, the New York Times ran a revealing article titled “The Typical American Lives Only 18 Miles From Mom.” Based on a comprehensive survey of older Americans, the authors reported that, “Over the last few decades, Americans have become less mobile, and most adults—especially those with less education or lower incomes—do not venture far from their hometowns.” In fact, “the median distance Americans live from their mother is eighteen miles, and only 20 percent live more than a couple of hours’ drive from their parents.”

My Short Case Against Occupational Licensing

by David R. Hendersonvia EconLog
Wednesday, April 3, 2019

“Just because somebody packs up that moving van in Chicago, Illinois, they don’t lose their skills on the way to the state of Arizona. Why should somebody have to suffer the burden of thousands of dollars or weeks or months of recertification in a skill that they already have?” So said Doug Ducey, the Republican governor of Arizona, in making his case recently for relaxing Arizona’s licensing laws.

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Interviews

The American Dream Is Very Much Alive: Hoover Institution Senior Fellow Shelby Steele

interview with Shelby Steelevia Varney & Co (Fox Business)
Tuesday, April 2, 2019

Hoover Institution fellow Shelby Steele discusses the many opportunities available to everyone in America.

In the News

Manufacturing Returns To Growth

quoting Michael Spencevia ECNS.com
Tuesday, April 2, 2019

The Caixin/Markit Manufacturing Purchasing Managers Index showed that China entered expansion territory in March, indicating a notable improvement in the country's manufacturing sector. Economists said the rise showed policies to bolster growth have begun to pay off, and the world's second-largest economy is likely to achieve steady expansion this year. The PMI, released on Monday, recovered for the second consecutive month and stood at 50.8 in March, versus 49.9 in February.

Analysis and Commentary

The Federal Minimum Wage Increase Hurt Many Low-Skilled Workers

by David R. Hendersonvia EconLog
Friday, March 29, 2019

We find that increases in the minimum wage significantly reduced the employment of low-skilled workers. By the second year following the $7.25 minimum wage’s implementation, we estimate that targeted individuals’ employment rates had fallen by 6.6 percentage points (9%) more in bound states than in unbound states. The implied elasticity of our target group’s employment with respect to the minimum wage is −1, which is large within the context of the existing literature.

In the News

"Not Enough Focus On Joblessness," Raghuram Rajan Tells NDTV: Highlights

featuring Raghuram Rajanvia NDTV
Tuesday, March 26, 2019

Today even if you have a high-school degree you don't get a job. We have great jobs for people leaving premier institutions like IIMs, etc, but that is not the case for a majority of students leaving schools and colleges which are not of that level of repute.

BusinessFeatured

How Many Of California’s 1.5 Million Food-Service Jobs Will Be Lost To The Minimum Wage?

by Lee Ohanianvia California on Your Mind
Tuesday, March 26, 2019

In 2022, California’s minimum wage will rise to $15 per hour (by 2023 for businesses with fewer than 25 employees), including restaurant workers. As one California food wholesaler, who services a number of restaurants, told me, “Get ready for the $25 lunch burger at your favorite decent, non–fast food restaurant.” 

In the News

If $15 Minimum Wage Is Such A Good Idea, Why Did AOC's Bar Close Down?

quoting Thomas Sowellvia Townhall
Thursday, March 21, 2019

The brilliant Thomas Sowell, when in college, considered himself a Marxist. Asked what changed him, Sowell said, "Evidence."

In the News

On Asbestos Blame, Supreme Court Is Still At Sea

quoting Richard A. Epsteinvia Cato Institute
Tuesday, March 19, 2019

With Justices Kavanaugh and Roberts crossing over to join the liberals, the Supreme Court ruled 6-3 today in Air & Liquid Systems v. DeVries that federal maritime law permits seafarers claiming asbestos-related ailments to sue manufacturers of ship components such as boilers and turbines that contained no asbestos, on the grounds that they knew that the mineral would be used in conjunction with their product later in such forms as insulation or connective gaskets.

Analysis and Commentary

Trade Policy Is Upending Markets—But Not Investment

by Steven J. Davisvia Chicago Booth Review
Monday, March 18, 2019

While tariffs and tariff threats have become a leading source of stock market volatility, they have had little impact on US business investment.

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Economic Policy Working Group

 
The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple