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http://www.aei-ideas.org/2013/01/lets-end-the-long-enormously-destructive-war-on-drugs/#comments

http://www.aei-ideas.org/2013/01/from-todays-employment-report-manufacturing-housing-and-energy-sectors-show-job-gains-in-december/#comments

http://www.aei-ideas.org/2013/01/energy-fact-of-the-week-as-a-separate-country-the-us-oil-and-gas-industry-would-be-the-16th-largest-economy-in-the-world/#comments

http://www.aei-ideas.org/2013/01/quotation-of-the-day-james-buchanan/#comments

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http://www.aei-ideas.org/2012/12/quotations-of-the-day-thomas-sowell-on-politics/#comments

http://www.aei-ideas.org/2012/12/christmas-shopping-for-a-digital-camera-2000-vs-2012/#comments

http://www.aei-ideas.org/2012/12/sunday-morning-links-4/#comments

http://www.aei-ideas.org/2012/12/real-estate-links/#comments

http://www.aei-ideas.org/2012/12/what-can-we-learn-from-bowling-about-incentives-disincentives-and-progressive-income-taxes/#comments

http://www.aei-ideas.org/2012/12/some-clear-thinking-on-the-national-debt-and-the-real-fiscal-problem-governments-spending-on-entitlement-programs/#comments

http://www.aei-ideas.org/2012/12/p-j-orourke-on-the-fallacy-and-evil-of-zero-sum-thinking/#comments

http://www.aei-ideas.org/2012/12/some-clear-thinking-on-the-national-debt-and-the-real-fiscal-problem-governments-spending-on-entitlement-programs/#comments

http://www.aei-ideas.org/2013/01/thursday-morning-links-5/#comments

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http://www.aei-ideas.org/2012/12/quotation-of-the-day-thomas-sowell-on-academic-mismatch/#comments

http://www.aei-ideas.org/2012/12/monday-morning-links-5/#comments

http://www.aei-ideas.org/2012/12/13-uaw-workers-at-chrysler-who-were-caught-redhanded-drinking-and-smoking-weed-during-work-hours-are-reinstated/#comments

http://www.aei-ideas.org/2012/11/moral-authority-in-us-drug-policy-is-being-reclaimed-by-the-american-people-and-message-is-echoing-around-the-world/#comments

http://www.aei-ideas.org/2012/12/milton-friedman-explains-why-we-should-maximize-imports-and-minimize-exports/#comments

http://www.aei-ideas.org/2012/12/sunday-energy-links-2/#comments

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PeakTrader | December 7, 2012 at 3:33 am
Your comment is awaiting moderation.

Here’s a longer-term chart:

http://en.wikipedia.org/wiki/File:Graphic.png

Of course, asset bubbles (in housing, bonds, stocks, gold, etc.), e.g. 1995-00 and 2002-07, increased net wealth.

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http://www.aei-ideas.org/2012/12/according-to-government-forecast-abundant-and-reliable-fossil-fuels-will-supply-80-of-u-s-energy-demand-in-2040/#comments

http://www.aei-ideas.org/2012/12/tuesday-night-links-3/#comments

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Supply & Demand for Wine:

http://www.aei-ideas.org/2013/01/economic-theory-applied-to-combating-wine-scalping/#comments

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http://www.aei-ideas.org/2013/01/george-will-because-penalties-for-not-buying-insurance-are-limited-obamacare-may-be-on-the-path-to-ultimate-extinction/#comments

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http://www.aei-ideas.org/2013/01/great-moments-in-failed-predictions/#comments

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Minimum Wage:

http://www.aei-ideas.org/2013/02/milton-friedman-responds-to-president-obamas-proposal-to-raise-the-minimum-wage-the-most-anti-black-law-in-the-land/#comments

http://www.aei-ideas.org/2013/02/the-real-tragedy-is-that-many-americans-earn-0-00-per-hour-and-live-in-poverty-because-of-the-minimum-wage-law/#comments

http://www.aei-ideas.org/2013/02/thursday-night-links/#respond

http://www.aei-ideas.org/2013/02/quotation-of-the-day-on-the-miracle-of-government-spending/#comments

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Austrian economist: It’s very simple. Raising the price of labor will reduce the quantity demanded for labor.

Neoclassical economist: What about giving workers the flexibility of cash instead of fixed benefits, cutting pay for overpaid workers, raising prices only 2% for a 10% increase in the minimum wage, and all firms will have to pay at least the minimum wage to level the playing field, reduce our historically high profit margins a little, workers may stop pretending to work when we stop pretending to pay them, more productive workers will take jobs (my teen looks at any job below $10 an hour as a joke, although there are desperate people), and we can reduce the costly turnover rate substantially.

Austrian economist: Don’t bother me with details.

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