Some interesting news from Michigan:
Michigan workers are not going to suffer. They have simply been given the freedom to join or not join a union, to pay or not pay dues. And while wages in right-to-work states such as Virginia, Tennessee, Texas and Florida are slightly below those of other states, employment in . . . → Read More: Imagine That!
Turns out it’s neither cheap nor labor:
“In 2010, 36 percent of immigrant-headed households used at least one major welfare program (primarily food assistance and Medicaid) compared to 23 percent of native households,” summarizes the document which was published by the Center for Immigration Studies and examines a wide variety of topics relating to . . . → Read More: “Cheap Labor”
The Seattle Times:
If President Obama wants to avoid an economic calamity next year, he could always show up at a news conference bearing two shiny platinum coins, each worth … $1 trillion.
That sounds wacky, but some economists and legal scholars have suggested that the “platinum coin option” is one way to defuse . . . → Read More: It’s Not The Worst Plan In The World
There are a lot of people calling for raising taxes. Tom Coburn (a Republican, it should be noted) is in favor of increasing tax revenue by raising nominal rates on the wealthy. Daniel Berger thinks it’s unfair that the rich (himself excepted, of course) don’t pay their fair share. These two stories, then, reveal . . . → Read More: Tax Stupidity
It makes no difference who gets the extra money from the Fed, because the recipient is no wealthier than before (money is swapped for bonds) and hence they have no incentive to spend any more. Rather the impact occurs in the AGGREGATE. Total holdings of the base now exceed total base demand . . . → Read More: It’s A Wonderful Theory
Paul Krugman demonstrates his irrelevance yet again:
What was Mr. Rubio’s complaint about science teaching? That it might undermine children’s faith in what their parents told them to believe. And right there you have the modern G.O.P.’s attitude, not just toward biology, but toward everything: If evidence seems to contradict faith, suppress the evidence.
. . . → Read More: Fire This Clown
Universal is suing a porn company:
The copyright owner of the mega-selling book, Fifty Shades of Grey, and Universal Studios, which owns movie rights, aren’t happy with a porn film titled Fifty Shades of Grey: A XXX Adaptation.
In the new lawsuit, Fifty Shades Ltd. and Universal point to that quote as proof of . . . → Read More: The Pot Calling the Kettle Grey
This story caught my eye:
Now another revolution on wheels is on the horizon: the driverless car. Nobody is sure when it will arrive. Google, which is testing a fleet of autonomous cars, thinks in maybe a decade, others reckon longer. A report from KPMG and the Centre for Automotive Research in Michigan concludes . . . → Read More: A Theory of Regulation
A California district court has ruled that it’s definitely still not okay to steal from people in the music industry, even if they’re just lowly music publishers. Judge George H. Wu served LiveUniverse.com and its owner, MySpace co-founder Brad Greenspan, with a $6.6 million default judgment on Tuesday for posting the lyrics to 528 . . . → Read More: The Music Industry is Dying
That’s the question asked by Michael Smith. He doesn’t do a very good job answering:
My colleague, Rahul Telang, and I recently finished a paper reviewing the academic research on the impact of piracy on sales. Our review finds that, when viewed as a whole, the academic literature strongly suggests that piracy harms media . . . → Read More: Does Piracy Harm Sales?