Matt Yglesias had a post about left economic mistakes a few days ago. I responded in turn, focusing only on how it is completely legitimate to be worried about productivity-enhancing layoffs that happen within a social structure that does little to ensure those laid off continue to do well. I argued that Yglesias hastily concluded… Continue reading Yglesias and Ackerman in violent internet fight
Author: Matt Bruenig
Yglesias on left economic mistakes
Matt Yglesias has a post today explaining that the only way to increase someone’s real income is by decreasing someone else’s real income. He rightly points out that some on the left are confused about this. They tend to think about jacking up wages only in terms of the workers who got a higher wage… Continue reading Yglesias on left economic mistakes
Why are unpaid internships on the rise?
Suppose that the following things are basically true: Good jobs go to those who have the most credentials, be that degrees, experience, or otherwise. The supply of good jobs in our economy is scarce and basically not growing. The number of people amassing credentials to compete for those jobs is growing. If these are true,… Continue reading Why are unpaid internships on the rise?
The garbage logic of the EITC alternative to the minimum wage
I am tired of seeing a certain argument against the minimum wage that makes absolutely no sense. According to this argument — which Christina Romer is now guilty of making — we should not increase the minimum wage because increasing the Earned Income Tax Credit is an even better way to improve the lot of… Continue reading The garbage logic of the EITC alternative to the minimum wage
Short summary: argument for minimum wage increase
If you don’t want to wade through all of the articles about a possible minimum wage increase, here is the primary argument in favor of such an increase. A modest minimum wage increase at this moment: will increase the wages of low-income workers, will not cause employers to lay off workers, will make other income… Continue reading Short summary: argument for minimum wage increase