Tag: John C. Goodman

Wages have nothing to do with miserliness or generosity

The brilliant economist John C. Goodman is out with another brilliant column. This one about the foolishness of minimum wage laws. See here. : To summarize: a firm that pays workers more than they are worth cannot survive because it cannot match the prices and the rate of return to investors of its rivals. A …

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New Study: For Every New Dollar a College Receives in Student Loans, a College Raises its Tuition by 65 Cents

We all know that the Federal Student Loan Program has driven up college tuition costs because the Program subsidizes artificial demand. Now a New York Fed study has found that: for every new dollar a college receives in Direct Subsidized Loans, a school raises its price by 65 cents. For every dollar in Pell Grants, …

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