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The details of minimum wage laws show why they are so harmful

Large businesses in Saint Paul are already paying their workers at least $15ph and raising the city's minimum wage has always been about raising costs for the city's small businesses. Slowing the increase for these businesses is a sign that, whatever they might say, Saint Paul's policymakers realize that it will have very real costs. If only they would be honest about it.  ...

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Milton Friedman: Good wealth, bad wealth

Generally, the rich got that way by catering to the demands of other people in a reasonably free market. They did not get rich by making people poor, but by selling them what they wanted. There are, of course, cases where someone has got rich by stealing from another by force or fraud. But there the problem is the theft, not the inequality it gives rise to. In this Newsweek column from August 1981, the economist Milton Friedman explains that people cannot get rich at the expense of others only by committing theft or fraud themselves, but also by enlisting...

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As St. Paul’s politicians prepare to hobble the city’s labor market with a $15 minimum wage without tip credit, D.C.’s are getting rid of it

Despite economic theory and empirical evidence being against such a move, Saint Paul's Mayor, Melvin Carter, seems intent on imposing a $15ph minimum wage without a 'tip credit' on the city's businesses. The experience of Washington D.C. shows just how bad this policy is....

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Venezuela hikes its minimum wage and trashes employment. What are the lessons for Minnesota?

It is heartbreaking to see the people of Venezuela, formerly the poster child for 'democratic socialists' like Sen. Bernie Sanders, reduced to being lab rats in another experimental proof of the the awfulness of socialist economics. But there are lessons in this and the least we can do is learn from them. ...

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Since 2010, per capita GDP has grown faster in Wisconsin than in Minnesota

Since 2010, the amount of work done in Minnesota has grown faster than in Wisconsin but the amount produced by this work has increased faster in Wisconsin. As we noted last year, Minnesota's workers are less productive than the national average. This needs to change for the economic well-being of the state. The same goes for the new Minnesotans too. ...

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