Politico reports that progressive Democrats are set to “crack down” on the private equity industry, with Sen. Elizabeth Warren, D-Mass., likely to reintroduce her 2019 Stop Wall Street Looting Act. Warren has said: “For far too long, Washington has looked the other way while private equity firms take over companies, load them with debt, strip them of their wealth, … Continue reading Warren’s Attack on Private Equity Industry Isn’t Just Bad for Wall Street, It’s Bad for Main Street
Category: Economy
Bloomberg News recently ran a profile of Arin Dube, a Professor of Economics at the University of Massachusetts, Amherst. The story is a powerful one. It explores how Dube went from a 16-year-old burger flipper earning $3.85 at a McDonald’s in Seattle to a leading authority on the minimum wage. With federal legislation proposed to … Continue reading Bloomberg Article Misleads by Omitting Key Detail about Economists Surveyed on $15 Minimum Wage
The world may be nearing the end of the coronavirus pandemic (at least we can hope), but the post mortems are just beginning. A new paper from the National Bureau of Economic Research found important correlations between sales losses and lockdowns across counties in California. Economists Robert W. Fairlie and Frank M. Fossen used state … Continue reading Study: Lockdowns Had Largest Impact in Destroying Economic Activity
A company spokesperson directly cited the city council’s ordinance mandating higher wages as the reason they are closing down.
Chick-fil-A is the third largest fast food chain in the US, bringing in $11.3 billion in sales in 2019 at more than 2,600 locations. One of the reasons for its meteoric rise is its legendary drive-thru efficiency.
A lawsuit from across the northern U.S. border over the Biden administration’s halting of an oil pipeline could hang on a Supreme Court ruling against the Trump administration related to the southern border.
New Zealand’s experience is one of numerous examples in which socialism caused ruin that capitalism then fixed.
The combination of unified control of the federal government along with the COVID-19 pandemic has seemingly caused some elected officials to think there are no consequences to new spending proposals. However, they must wake up to the dangers posed by recklessly adding to the national debt. On Thursday, Majority Leader Charles Schumer, D-N.Y., exemplified this … Continue reading Schumer Is Wrong About Debt. Congress Must Take Debt Danger Seriously, Not Spend Recklessly.
President Joe Biden is pushing for inclusion of a $15 federal minimum wage in the next COVID-19 spending package, hoping it would stimulate the economy. But a top financial expert just warned it would do the opposite—and spell doom for restaurants and small businesses. A higher minimum wage “reduces firm’s incentives to hire more minimum … Continue reading $15 Minimum Wage Would ‘Spell a Death Knell for Many Small Restaurants,’ Expert Warns
The Cato Institute has filed an amicus brief in the Second Circuit in an important challenge to New York’s rent control laws. Rent control is a silly and counterproductive idea, but it also might be unconstitutional. Economists have long known that rent control is a bad idea. Rent control, after all, is just a price ceiling, and price ceilings yield … Continue reading Are Rent Control Laws Unconstitutional?
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