Peter's Blog

Minimum Wage Hikes Kick in at Worst Possible Time for Small Businesses

The government response to the coronavirus pandemic has put extraordinary pressure on small businesses. And that pressure is about to increase thanks to yet another government action – minimum wage increases across the US.

Fun on Friday: Economics in One Song

I love music. A good song can comfort, inspire or motivate.  There are a lot of really good songs out there. I found one the other day. I’ll get to that in a minute. But first, I have to say there are also some real duds.

Fun on Friday: Muh Feelz Trumps Economics

I get really frustrated by people arguing vociferously about things they don’t know anything about. And on no subject is this more prevalent than the debate over the minimum wage. Bring up the “fight for $15” and you will suddenly get high school dropouts who can’t do basic multiplication yelling at you emphatically about the […]

Fun on Friday: Don’t Read the Comments

I know a lot of you come to Fun on Friday for the advice. Well, here are your words of wisdom for today – never read the comments. It will really help your sanity.

The Era of Boom-Bust Is Not Over

In the most recent Friday Gold Wrap podcast, Mike Maharrey talked about the fact that the Federal Reserve has increasingly engaged in more and more extraordinary monetary policy. As he put it, extreme has become the norm. Despite what pundits insist is a “great” economy, interest rates are extremely low by historical standards and the […]

Elizabeth Warren Is a Bad Economist!

According to Elizabeth Warren, we have a problem. And like every good central planner, she believes she can fix it. In fact, Warren has made, “I have a plan for that,” a campaign slogan. These people never learn. They try to micromanage the economy, create all kinds of unseen consequences, blame “capitalism,” and repeat the […]

Is that “Real” Socialism? It’s Your Dime Interview With José Niño

José Niño was born in Venezuela and his family has experienced the impacts of socialism first hand. But was it “real socialism?” On this episode of It’s Your Dime, José and host Mike Maharrey talk about it. José had the good fortune of leaving Venezuela before it descended into chaos. After reading the tea leaves […]

Fun on Friday: This Post Blows

As I write this, Hurricane Dorian is taking aim at Florida. What’s fun about that? you might ask. Well, nothing. And I don’t want to minimize the potential for disaster. But the hurricane hasn’t hit yet and the runup to a storm provides a lot of amusement and some educational moments. I just can’t resist.

The Fight for $15: Good Politics, Bad Economics

Raising the minimum wage might be good politics, but it’s bad economics – despite what some economists say. Last week, the Maryland legislature overrode the governor’s veto and adopted a $15 per hour minimum wage. It was a major victory for the “Fight for $15” crowd, but it almost certainly won’t be for low-skilled workers […]

Economics Needs the Context of Sound Theory: Facts and Figures Aren’t Enough

Context is key. During last week’s Friday Gold Wrap podcast, Mike Maharrey emphasized the importance of understanding sound economic theory. Without a firm grasp of basic economic principles, it becomes impossible to properly evaluate any observations you make and to properly interpret economic data. As economist Frank Shostak put it in a recent article published […]