Category Archives: Jobs and economy

McDonald’s is struggling right now. Backers of a huge minimum wage increase take note.

My newsletter draws lessons from McDonald’s struggles, which owe to dealing with significant price increases in inputs such as beef, cheese, and pork, trying to hold onto its signature Dollar Menu items, and quietly raising prices elsewhere. Consumers are adjusting accordingly (demand curves slope downwards), especially those whose interest in McDonald’s is as a low-priceContinue Reading

Canada shows the way on USAs

Chris Edwards of the Cato Institute highlights some positive news from our neighbors to the North. A tax reform is spurring a savings revolution in Canada. Amity Shlaes and I wrote about Canada’s Tax-Free Savings Accounts (TFSAs) in the Wall Street Journal in August. We think that such accounts would be a fantastic policy reformContinue Reading

Nursing degrees: Get ‘em while they’re hot

Becoming a nurse is probably a great idea. You can do it with minimal credentials (associate degree or less), it’s a fast-growing field, and in 2012 the median registered nurse made upwards of $65,000. It’s such a great idea that it would be a shame for special interests and policymakers to ruin it for everyone.Continue Reading

Latest N.C. jobs report contains ‘excellent’ news

John Hood has sifted through the numbers associated with North Carolina’s latest employment report. He likes what he sees: RALEIGH — The latest federal employment report delivers excellent news for North Carolina. That’s the assessment from the John Locke Foundation’s chairman, who notes that state employers added 14,000 new jobs in September. That means aContinue Reading

Two CEOs challenging entrenched business interests win plaudits from Fortune

The top executives at Uber and Airbnb share top honors in Fortune magazine’s latest list of “40 Under 40.” They’re revolutionizing two very different industries, but this year was the year that Kalanick and Chesky became the figureheads for the ongoing clash between the great potential of the Internet economy and the rules and regulationsContinue Reading

Using capitalism to fight communism

The latest Bloomberg Businessweek suggests an interesting tool for battling Cuban communism: capitalism. Yamina Vicente has lived in communist Cuba her whole life. But it didn’t take her long to learn one of capitalism’s handier skills: creating market demand. Baby showers were practically unheard of in Cuba until last year, when Vicente started an eventContinue Reading

Barron’s writer labels latest Nobel economics prize a dud

Gene Epstein explains in his latest “Economic Beat” column for Barron’s why the latest Nobel Prize awarded for economics misses the mark. The 2014 Nobel Prize in Economics was awarded last Monday to French economist Jean Tirole for what the committee referred to as “his analysis of market power and regulation.” To understand why Tirole’sContinue Reading

Will N.C. leaders draw the wrong conclusion again?

Veronique de Rugy of the Mercatus Center reports that North Carolina ranks No. 15 among the states in corporate welfare, both in terms of the number of subsidy deals targeting private companies and the amount of money devoted to those targeted giveaways. Targeted state subsidies to private businesses are often promoted as a “market-friendly” meansContinue Reading