Comments on: Samizdata quote of the day

By: Paul Marks

Paul Marks — Mon, 18 Feb 2013 15:41:59 +0000

Thewhitedsepulchre – almost needless to say, the Economist magazine treats this absurd “study” as if it was an important piece of reasoning.

By: Thewhitedsepulchre

Thewhitedsepulchre — Mon, 18 Feb 2013 00:16:39 +0000

All,
Please welcome Gary Higgs. (see above)
He’s dragging out the Kruger and Card survey, the one where they surveyed the restaurants that survived the minimum wage increase, and then determined that no harm was done.
Using the same methodology, you can prove that no one died in World War 2.
One of my favorite bullshit academic studies.

By: Perry de Havilland (London)

Perry de Havilland (London) — Sat, 16 Feb 2013 07:52:24 +0000

Based on data from the employers’ responses, the authors concluded that the increase in the minimum wage increased employment in the New Jersey restaurants.

Presumably because businesses like to have increased costs and decreased profits?

By: Julie near Chicago

Julie near Chicago — Sat, 16 Feb 2013 04:10:34 +0000

Here is a “feel good about ourselves for a change” 10-minute video from some dude who used to hang around the hallowed halls of The University of Chicago. It’s called “The Myth of the Robber Barons.” (And it’s NOT all Pollyanna.)

https://www.youtube.com/watch?v=dmzZ8lCLhlk

By: Paul Marks

Paul Marks — Fri, 15 Feb 2013 21:39:45 +0000

As for black people – blacks are being slaughtered in L.A. (and the rest of Southern California) right now. Barack Obama does not care – because he can (at the moment) see no reason to care.

Hispanics killing blacks (or blacks killing blacks) can not be USED for the cause of the “fundemental transformation of society” (the destruction of civil society – “capitalism”).

Although he may use it as an excuse for “gun control” (which he, and other Progressives, want for totally different reasons).

By: Paul Marks

Paul Marks — Fri, 15 Feb 2013 21:34:07 +0000

Tman – there corrupt, but not in the (relatively) nice way you (and the late Milton Friedman) thought they were.

Say that Barack Obama (and co) thought that they could win elections by a landslide (and profit personally) by rolling back government.

HE WOULD NOT SUPPORT DOING SO.

Why not?

Because, in spite of he all Chicago Machine corruption, he is a man of PRINCIPLE.

You are laughing now – but he is.

All the far left are.

That is what makes them dangerious.

If they were just ordinary criminals there would be much less of a problem.

The do not undermine civil society as a unfortunate by-product of personally seeking power.

They undermine civil society ON PRINCIPLE.

The principles that (for example) dominate the education system.

By: Gary Higgs

Gary Higgs — Fri, 15 Feb 2013 18:44:18 +0000

Your theoretical musings may be satisfying to you, but consider the following case study:

In 1992, the minimum wage in New Jersey increased from $4.25 to $5.05 per hour (an 18.8% increase) while the adjacent state of Pennsylvania remained at $4.25. David Card and Alan Krueger gathered information on fast food restaurants in New Jersey and eastern Pennsylvania in an attempt to see what effect this increase had on employment within New Jersey. Basic economic theory would have implied that relative employment should have decreased in New Jersey. Card and Krueger surveyed employers before the April 1992 New Jersey increase, and again in November–December 1992, asking managers for data on the full-time equivalent staff level of their restaurants both times.[64] Based on data from the employers’ responses, the authors concluded that the increase in the minimum wage increased employment in the New Jersey restaurants.[65]

By: The Whited Sepulchre

The Whited Sepulchre — Fri, 15 Feb 2013 18:41:18 +0000

Perry,
Thanks for the link, and for the traffic.
We’re trying to raise black teen unemployment to 50% in the U.S., and appreciate all of your support.
Everyone should be paid $9.00 per hour, or nothing at all!!
We can do it! We can do it! We can do it!!!

By: Tman

Tman — Fri, 15 Feb 2013 06:45:47 +0000

The problem is that we will always have politicians. And therefore we will always have competing sides of stupidity. I tend to agree with Friedman that we don't need to throw the bums out, we need to make it politically profitable for our current bums to do the right thing. Why it isn't Necessary to "Throw the Bums Out"

By: Julie near Chicago

Julie near Chicago — Fri, 15 Feb 2013 01:18:03 +0000

Mid,

Walter Williams is always worth watching, and those clips were very good. Thanks.

By: Alisa

Alisa — Fri, 15 Feb 2013 00:34:41 +0000

Steven: ‘government-free’ still does not mean ‘free’. ‘Free’ means free from violence and coercion, no matter if it comes from government (or what passes for it), or gangs, or any other group of people who operate under the ‘might makes right’ principle. What you describe (as my knowledge of history is dismal – maybe Paul can way in on that time and place) was not a free environment by any measure.

By: Midwesterner

Midwesterner — Fri, 15 Feb 2013 00:05:29 +0000

Speaking of Walter Williams, this is worth watching.