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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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For our economic health, Minnesota must cut tax burdens

Minnesota's economic growth has been lackluster so far this century. We have a hard-working labor force but low productivity. We need lower taxes that will retain and entice productive workers and incentivize innovation and investment. Only then will working Minnesotans start to see the returns their efforts ought to generate....

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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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A history of American economic policy in six books

There was a time when leading economists would write for a mass audience, commenting on the issues of the day, and applying economic principles to them. These six books offer a course in both economics and the economic aspects of post-war U.S. history. They also offer a window on a time when debate about these issues was, perhaps, less shrill than it is now. It was also, probably, more fruitful. ...

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