NOL: Short rejoinder to Vincent Geloso

Vincent Geloso responde a mi post en Notes on Liberty sobre el ingreso de salarios mínimos. El punto de él es interesante, aunque creo que cae al margen de mi argumento. Mi corta respuesta en NOL

A few days ago I posted here at NOL a short comment on some reaction I’ve seen with regards to Seattle’s minimum wage study. Vincent Geloso offers an insightful criticism of my argument. Even if his point is quite specific (or so it seems to me), it offers an opportunity for some clarification.

But first, what was my argument? My comment was aimed at a specific point raised by advocates of increasing minimum wages. Namely, that even if Seattle’s study shows an increase in unemployment, a study with a larger sample may say otherwise. My point is that the way I’ve seen this criticism raised is missing the economic insight of minimum wage analysis, namely that jobs will be lost in less efficient employers and employees first. So far so good. The problem Geloso points out is with my example. I refer to McDonald’s as the efficient employers fast food chain (think of economics of scale) and as less efficient employers the neighborhood family-run little food place (neighborhood’s diner).

Seguir leyendo en NOL.

NPPE—New Perspectives on Political Economy

Vol 12, no. 1-2 for download

Pierre Desrochers, Vincent Geloso: Snatching the Wrong Conclusions from the Jaws of Defeat: Part 1 – The Missing History of Thought: Depletionism vs Resourceship

Pierre Desrochers, Vincent Geloso: Snatching the Wrong Conclusions from the Jaws of Defeat: Part 2 – The Wager: Protagonists and Lessons

Nikolai G. Wenzel: Classical Communitarianism and Liberal Anomie: Toward an Individual yet Robust Theory of Citizenship

Youliy Ninov: A Free Market Alternative to Anarcho-Capitalism

The Independent Review, Summer 2017, Volume 22, Number 1

New Thinking on Egalitarianism
By Robert M. Whaples

The New Egalitarianism
By Adam Martin

From Equality and the Rule of Law to the Collapse of Egalitarianism
By Ryan M. Yonk
James R. Harrigan

The Misuse of Egalitarianism in Society
By James R. Otteson Jr.

Judeo-Christian Thought, Classical Liberals, and Modern Egalitarianism
By Peter J. Hill

Egalitarianism, Properly Conceived: We ALL Are “Rawlsekians” Now!
By Michael C. Munger

The Limits of Redistribution and the Impossibility of Egalitarian Ends
By Jeremy Jackson
Jeffrey Palm

We’ll Never Be Royals, but That Doesn’t Matter
By William Arthur Carden
Sarah Estelle
Anne Bradley

Flat Is Fair: American Public Opinion on Taxes and the Myth of Egalitarianism
By Brian J. Gaines

Should We Be Pushing for More Equality of Income and Wealth?
By Edward P. Stringham

Inequality: First, Do No Harm
By Steven G. Horwitz
Vincent Geloso

Incentives and Expectations: Community Relations and Recovery in Tamil Nadu after the Indian Ocean Tsunami
By Nakul Kumar

Robert D. Tollison: In Memoriam
By William F. Shughart II

Book Reviews
C.S. Lewis on Politics and the Natural Law
By Justin Buckley Dyer and Micah J. Watson
Reviewed by John Robinson

Escaping Jurassic Government
By Donald F. Kettl
Reviewed by Michael C. Munger

Economics Rules: The Rights and Wrongs of the Dismal Science
By Dani Rodrik
Reviewed by Robert M. Whaples

The Great Tradeoff
By Steven R. Weisman
Reviewed by Lotta Moberg

Self-Control or State Control? You Decide; Arguments for Liberty
By Tom G. Palmer and Jameson Campaigne; Aaron Ross Powell
Reviewed by Michael C. Munger

Moderation in Response to Provocation Is No Vice
By Robert Higgs