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What needs to be understood about price control schemes, including minimum wage laws – They never work

It should not come as a surprise that a local St. Paul institution is citing the $15 minimum wage law as one of its reasons for going out of business. High operating costs are inevitable for businesses operating in areas with a high minimum wage. With that comes cutting hours, laying off people or going out of business. That reality has always been the same throughout history; controlling prices, wages included, leads to negative consequences. As early as 4000 years ago, the Babylonians had the code of Hammurabi, which had stipulations of wage control and other price control measures. Among other laws,...

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With manufacturing slowing, Minnesota’s uncharacteristically low taxes on manufacturers are more important than ever

Manufacturing in Minnesota is a bit of a success story and much of that is down to lower than average taxes. They helped the state weather the 'China Shock' comparatively well and they can help insulate our state's manufacturers from any economic downturn. ...

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Minnesota’s unemployment rate is down from July to August, but the number of people unemployed is up 20% over the year

Over the last year, Minnesota's working age population has grown faster than that of the United States generally, but employment has increase more slowly. As a result, while the number of unemployed rose across the country by 1.3%, in Minnesota it increased by 20.1%. ...

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Should we worry about a ‘labor shortage’ or rising unemployment in Minnesota?

Over the last year Minnesota has added more people but fewer jobs that the nation as a whole. The number of Minnesotans not working - either unemployed or out of the labor force entirely - has risen, while it has fallen nationally. Perhaps it is time to refocus our attention away from the supposed 'labor shortage' and towards our growing unemployment problem. ...

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