Did you know that 355,000 people were laid-off last week because Obama was re-elected? Or, at least, that’s what many Conservative activists would have you believe. Apparently, there is this growing meme going around the internet that companies are laying people off because Obama and “Obamacare” is here to stay. This is all likely . . . → Read More: Debunking Those So-Called “revenge”/”Obamacare” Layoffs (w/Math)
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To start off Chapter 2 of “The General Theory of Employment, Interest, and Money”, Keynes makes a keen observation of the economics profession. That there is a tendency to talk more about how an economy distributes its wealth, and not how to produce more wealth as well as what determines the employment of the . . . → Read More: General Theory Study Guide: Book 1, Chapter 2, Sections I and II Conservative politicians and commentators repeatedly assert that employers need to reduce “labor costs” to stay competitive(Examples here and here). They assert that lower wages will be better for the country by creating more jobs and cheaper products. These assertions do not standup well against 30 seconds of critical thinking. Putting aside the morality of . . . → Read More: The Cost of Labor SHOULD be High |
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