At The Money Illusion blog: “Regarding the minimum wage, here is some data for Western Europe: “There are nine countries with a minimum wage (Belgium, Netherlands, Britain, Ireland, France, Spain, Portugal, Greece, Luxembourg). Their unemployment rates range from 5.9% in Luxembourg to 27.6% in Greece. The median country is France with 11.1% unemployment. “There are […]
European country data on the minimum wage Read More »
Robert Lawson (Southern Methodist University), along with James Gwartney (Florida State University) and Joshua Hall (West Virginia University), is editor of the celebrated Economic Freedom of the World Index. The Index is one of the major achievements in social science research this generation, made possible by much better data and awesome computing power. Professor Lawson
Robert Lawson on the Economic Freedom of the World Index Read More »
The thirteen arguments are: 1. Liberal capitalism increases freedom. 2. People work harder in liberal capitalist systems. 3. People work smarter under liberal capitalism. 4. Liberalism increases individuality and creativity. 5. Liberal capitalism increases the average standard of living. 6. The poor are better off under liberal capitalism. 7. Liberal capitalism generates more philanthropy. 8.
13 arguments for liberal capitalism in 13 minutes Read More »
A good journalistic piece in The New York Times: “The Perverse Effects of Rent Regulation.” (Thanks to R.M. for the link.) Rent control is a classic case of bad economics and bad ethics. The bad economics is ignorance of unintended consequences — in this case a price control that makes the initial problem worse. The
Davidson on rent control as “perverse” Read More »
Illinois State University professor Terry Noel’s 24-minute video lecture on “Management and Entrepreneurship.” Dr. Noel discusses the elements of management — planning, organizing, leading, controlling — including examples from Moses, Chinese warfare, Adam Smith, Eli Whitney, Frank and Lillian Gilbreth, Frederick Taylor, Michael Taylor and Jay Barney — and management’s connection to entrepreneurship, with discussion
Terry Noel on management and entrepreneurship Read More »
I recommend Charles Millick’s The Challenges for Leadership, Values, and Happiness. Millick is a business professor at Wheeling Jesuit University, where he relocated after decades of real-life business experience at General Electric and other blue-chip corporations, as an entrepreneur, and as a management consultant. In this new book, Millick collects and condenses decades of leadership
Millick’s *The Challenges for Leadership, Values, and Happiness* Read More »
Professor Kline visited Rockford College on Tuesday to give a talk on four major thinkers — Hobbes, Locke, Hume, and Smith — who in large part established the intellectual framework for our modern business world. Kline is a professor of philosophy at the University of Illinois, Springfield. Here is my seven-minute follow-up interview with Kline
Philosophy of Business: William Kline interview Read More »
Let us dwell upon this year’s ranking of Illinois as among the worst states for business: 48th out of 50.[1] That is unchanged from last year. So people are leaving: “Illinois had the second-highest net domestic migration loss, sending 79,000 of its residents to other states. Illinois had ranked 49th in net domestic migration in
Illinois’s business climate and migration Read More »