Golden Rule of Business
Herb Karol
Don't run out of money!
Should We Increase the Minimum Wage?
Today something happened that I think is great. I read something that changed or at least significantly challenged an opinion I've held for quite some time. I say that this is great because I think that the process of learning and growing intellectually requires that people be willing to defend but also challenge their opinions. When my opinions are challenged in a way I feel is sufficient, then I feel I've developed intellectually at least in some small amount. Today I stumbled across and read some research from the London School of Economics that challenged a belief I previously held about the effects of minimum wage hikes. Since this is currently a hot topic, I thought I would let you all know what I found. I've held the belief for some time now that increases in the minimum wage are generally bad for the overall economy. My reasoning being, that in a competitive market, increasing the minimum wage is an ineffective and possibly dangerous way to transfer wealth. I don...
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