A collection of today’s Facebook posts from the Liberty Road Media page (give it a like/share!)…
Seattle Minimum Wage Issue: UofW Study flawed
Turns out the study critical of the Seattle minimum wage increase suffers from two major flaws:
1) It excluded 48% of Seattle’s minimum wage workforce and 2) the head researcher is anti-minimum wage to begin with.
Not only that, the study is at odds with almost all other research into increased minimum wage, which tend to find that minimum wage increases are overall positive and have their intended effect of helping the workers. https://www.bloomberg.com/…/the-overhyped-seattle-minimum-w… (This article is by the great Barry Ritholtz and has tons of great links)
Chomsky on Libertarian Socialism, i.e., Anarchism
Great 2011 interview Chomsky gave in Norway. Don’t let the intro–in what I presume is Norwegian–throw you for a loop, it’s not long and the interviewer who talks to Chomsky speaks very good English.
Nick Hanauer on how Stock Buybacks Cause Inequality
The problem with capitalism is that the capitalists want to starve the workers of, well…capital. As Hanauer points out,
“…one of the reasons there’s no place to invest the cash is that wages as a percentage of GDP have fallen by so much that workers can’t afford to buy anything any more. If instead of doing stock buybacks with that 700 billion dollars, that corporations use that 700 billion dollars to raise wages for workers, those workers would then buy a ton more, which would require capital to go out and expand to meet that demand.”