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Market forces got the Mall of America’s workers Thanksgiving off and O/T on Black Friday

Contrary to much myth, free markets do have mechanisms to raise earnings. When wage rises are decreed by government, some workers lose out to pay for it. But when those higher wages come from market forces and the competition between firms for labor, we can all get better off....

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Minnesota’s economy grew more slowly than 43 other states in the second quarter of 2017

Minnesota's economy grew more slowly than 43 other states in the second quarter of 2017. Much depends on trends at the national level, but the variations suggest that local factors play a role as well. What are these factors? How might we improve them? That is the subject of our new report, The State of Minnesota’s Economy: 2017....

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Venezeula’s economic and social collapse shows that Bernie Sanders is another “useful idiot”

In 2011, Sen. Bernie Sanders wrote "These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina, where incomes are actually more equal today than they are in the land of Horatio Alger. Who's the banana republic now?" Now, Venezuela's economy is collapsing as a horrible, predictable result of its socialist economic policies. At some point in the 20th century, the term "useful idiots" was coined for people in the rich west who extolled the virtues of communism. Sen. Sanders is one of the latest in this long and...

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Personal Income growth in Minnesota is driven by increases in transfer payments and shows our state’s poor performance on productivity

Minnesotans have a higher level of personal income than Americans generally. But in recent years the main contributor to its increase has been rising transfer payments. And, odd as it may seem, Minnesota's above average levels of per capita Personal Income indicate again our state's below average productivity. ...

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