Threats by labor unions have forced California lawmakers to strike a deal this weekend that could increase minimum wage to $15 an hour, generating concerns from business owners that the deal will drive up their costs, force them to cut back on the number of employees, and even put them out of business. Despite fears over the long-term negative effects such a wage increase would have on businesses and the availability of jobs for low-skilled workers, lawmakers have apparently caved to union threats to launch fully funded political campaigns that would take the issue directly to the voters in November.
Not only are so many jobs becoming obsolete, but so are many of the Luddite unions trying to stop the inevitable from happening.
Cecilia Malmstrom, architect of Europe’s migration disaster, promotes TPP, TTIP, WTO before Peterson Institute and Global Business Dialogue insiders.
Although elements of socialism have slowly crept into the economy, President Obama's calls for wage insurance cross well over the line. Under his State of the Union proposal, American workers could draw benefits merely for taking lower paying jobs, effectively cancelling out the free market in the process.
The International Monetary Fund is urging G-20 nations to consider a coordinated implementation of fiscal and monetary stimulus to counteract signs of a slowing global economy. What does that mean, and does it make sense for the United States and the rest of the world to consider?
Heavy doses of monetary policy have become the norm throughout the Western world over the past few decades, with the lowering of interest rates the most commonly utilized tool. Can interest rates ever go below zero, and if so, what does it mean?
With high levels of inflation and general economic malaise affecting Venezuala, some experts say the country has passed "the point of no return."
Last Friday, the Commerce Department released its initial estimate of U.S. economic growth for the fourth quarter of 2015, and the news was grim for the economy.