Daily Policy Digest

Economic Issues

Minimum Wages: A Poor Way to Reduce Poverty

A government-mandated wage floor raises the cost of low-skilled labor, which incentivizes firms to cut jobs or reduce employee work hours...

Cash No Longer a Vehicle for Saving

With the Federal Reserve's zero interest rate policy and government incentives that encourage consumer spending, it is not realistic to expect savers to fuel economic growth because there is little reason to put money into savings, says R. David Ranson, a senior fellow with the National Center for Policy Analysis...

Looming Retirement Crisis

Sixty-six percent of American workers have saved less than $50,000 for retirement, while 28 percent have saved less than $1,000...

An Alternative to Higher Capital Requirements

While requiring larger levels of capital would reduce the risk of insolvency, there are other ways to deal with the problem -- specifically, incentivizing banks to make more prudent decisions and take on less risk in the first place...

The Impact of Budget Stabilization on Economic Growth

Stable spending growth curbs pressures to raise taxes and cut back on spending caps, pressures that would otherwise result from fiscal stress...

Commodity Prices Follow Gold

Gold and industrial-metals prices are leading indicators of inflation, says R. David Ranson, a senior fellow with the National Center for Policy Analysis...

Income Inequality in U.S. Cities

There is a greater divide in income between the rich and the poor in the nation's biggest cities than in the United States as a whole...

Are Government Revenue Projections Biased?

While agency actors undoubtedly would like to protect their own reputations for accuracy, there is likely to be political pressure on them to produce favorable economic growth forecasts...

Another Housing Crisis on the Way?

There has been no real reform in the mortgage industry and there is unlikely to be real reform anytime soon...

Taxi Cartels in Chicago

In Chicago, cab companies generally purchase the medallions and rent them out to drivers; in 1991, they cost only $28,000, increasing to $79,000 in 2006 and up to today's staggering price of $360,000...


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