Economics and Social Policy - XXXVII

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Welcome to the June 3, 2007 edition of E&SP.

William Dvorak presents The First Creation posted at The First Creation.

Relatively new blog with a Randian flavor.

The big rift between conservatives and libertarians is their different understanding of the problem of evil. All kinds of seemingly rational people make decisions and take actions that don’t fit into what one would like to see as a moral norm.

Leon Gettler presents China's high-speed economy: will there be a car crash? posted at Sox First.

There are big problems in little China. Most stem from the nature of the gang running the place, and the structural rigidity associated with any communist clique (granted, at this point, the Chinese government is only nominally communist, but functionally mercantilist).

There’s a desire to grow the economy and decentralize, but a corresponding need to collect protection money, as well as control the media to keep the elite in place. Skimming, bribes, fiddles, whatever.

Without an independent media, or effective local competition, there’s plenty of room for things like the pet food or toothpaste scandals. If you don’t have to face media or competitive pressure, who cares about little things like contaminated products?

R.Pettinger presents Minimum Wages Essays posted at Economics Essays: "A look at aspects of minimum wage. In particular, looking at whether increasing minimum wages actually reduces poverty. For various reason, increasing minimum wages have less impact on reducing poverty than one might expect."

Well, not if you don’t expect very much… The expected beneficiary group (at least in America) is usually either the single parent or working class parents with kids. However, most of the people in this group don’t stay in minimum wage jobs for very long, at least not if they are good employees. The group most likely to be hurt is the unskilled teenager in need of a starter job to build skills and a work history.

A good starter discussion with links to more pieces.

Riversider presents Q: WHEN IS A PLAN NOT A PLAN? posted at Save The Ribble.

A classic bit of bureaucratic run around and double speak. Never a shortage of obfuscation, even at the town council level.

Zenofeller presents Transcendental Interviews : Today, Ben Bernanke. posted at zenofeller.com.

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