It’s been reported that a bunch of Teamsters have threatened a reality show crew because the production company was using non-union drivers. Having been a victim of union violence myself, I’m never surprised by such thuggery.
This sort of harassment is a sure sign that groups like the Teamsters are headed to the dust heap of history. They are becoming obsolete, socially, economically, and technologically. They won’t go quietly, but, eventually, they will go.
How’s Obamacare workin’ out for you?
Originally posted on 30 July, 2012
Homeopathy is a form of quackery that bases medical treatment on the idea that stuff which makes well people sick will make sick people well. Obamacare is, among its many faults, a form of homeopathic economics.
Consider the effect of the Medical Device Excise Tax on unemployment. It’s a basic principle of economics that if you tax something, you’ll get less of it. That’s one of the justifications for the taxes on tobacco products. So if we tax medical devices, we should expect that the demand for them will go down (to the extent that it is elastic) or that manufacturing will contract because of the increase cost (to the extent that demand is inelastic) creating shortages. Either way, the costs to consumers go up and the need for employees at device manufacturers goes down.
Only an economic homeopath would think that doing something that kills jobs in a good economy will expand employment in a weak economy.
Oh, and the tax has the effect of raising the cost to consumers for medical devices. Again, only an economic homeopath would believe that increasing the cost of goods saves money.
Is it November yet?
Campus Reform reports that Michigan’s new state minimum wage will pressure state universities to hire fewer students or cut their work hours.
He who refuses to do arithmetic is doomed to talk nonsense.
… just wait till it’s for free.
Forbes report that Obamacare has raised the cost of individual market premiums an average of 49%.
UPDATE—As I’ve noted before, increasing the minimum wage effectively outlaws jobs for workers whose skills are of marginal value.