Tuesday, November 17, 2015

Fabrice L. Lohadie — To Millennials’ Supporters of Bernie Sanders: Curb your enthusiasm

via Afro-Libertarian.com

As a fellow millennial, however, I don’t look at Bernie Sanders’s 2016 presidential campaign with rose-tinted glasses. His policies have been tried elsewhere, and they failed. To tackle his country’s dismal youth unemployment rate, Francois Hollande, for example, started a youth job initiative to subsidize employers in order to hire and train young people between 18-25. The program has not relieved France’s youth jobless rate, however. When Hollande started this $3.7 billion (3.5 Billion Euro) initiative to provide up to 75% of young workers’ salaries, France’s youth unemployment rate was around 25%. Two years later, things have not changed much, as illustrated below.

Instead of tackling the root cause of the problem, Bernie Sanders’s proposals will simply paper over it. For instance, youth unemployment rate in Urban America is quite high due to regulations such as minimum wage laws and occupational licensing, which discourage employers from hiring young people on a market rate basis, and keeps many from gainful employment. Therefore, his youth job initiative to subsidize up to a million jobs for disadvantaged youth will fall short, à la française. So, it is imperative for millennials and others to ask critical questions, and not just abide by herd mentality.

Even though millennials’ attachment to Bernie Sanders baffles me, I empathize with them. Many have graduated college with large debts, face under-employement, unable to rent or own a house like their parents before them, etc..In addition, they have been indoctrinated by society and the media that praise government intervention in the economy. It is difficult not to fall into this trap. Even many free market thinkers also fell for this vision.

Read the full article HERE.

Dr. CHE Sadaphal — On the Minimum Wage

The federal minimum wage is currently $7.25 per hour. President Obama, in his 2014 State of the Union address, called for this wage to be increased to $10.10 per hour. The rationale is that increasing the minimum wage will benefit workers, lift people out of poverty, boost the economy through increased spending, and correct the diminishing value of the current minimum wage by adjusting for inflation. On a federal level, efforts to raise the minimum wage have stalled, but such efforts have progressed in many states (e.g., Vermont at $10.50 an hour by 2018 and Connecticut at $10.10 an hour by 2017) and municipalities (e.g., Seattle at $15 an hour rolled in over time and Los Angeles at $15 an hour by 2020). In some instances, local groups have taken even bolder steps. The Micah Institute, for example, launched the Real Living Wage NYC Campaign this month that seeks to secure $20 per hour for all New York City workers. This figure is not arbitrary, but is the wage required to meet basic needs without government subsidies in Manhattan. MIT has calculated that a genuine “living wage” for an individual living in New York City is $14.30 per hour.

A wide range of opinions exists on tinkering with the minimum wage, as does a lack of consensus about the overall effects of an increase in the figure. Moreover, politics, as usual, tends to taint the facts with agenda-serving biases, so it is very difficult to obtain an objective analysis on whether raising the minimum wage is in fact helpful or harmful.

The point that I hope to convey is that any way you go, someone is going to lose something in the minimum wage fight—it’s just a matter of what they loose and how much. What one chooses to do thus becomes a matter of what variable holds the most weight in their economic equation: profit, workers, or ethics.

On the one hand, full-time employment of 2,080 hours a year at the current federal minimum of $7.25 an hour yields an income of $14,500 a year. This amount is above the individual annual income poverty threshold of $11,770 but below the poverty line of $15,930 for one adult supporting one child. Essentially, what the federal government is saying is that it has set the floor on what an employer can legally pay an employee while also recognizing that the same floor places that employee either just above or well under the threshold of destitution. Living in one of the boroughs of New York City, I am wholly incapable of imagining how a full-time minimum wage worker making $290 a week is able to survive. Honest work deserves honest pay, and $7.25 an hour is nowhere near honest. Even if a $15 an hour minimum wage was federally enacted, a full-time worker would still be making $31,200 a year, a figure significantly below the median 2013 U.S. annual household income of $52,250.
Read the full article HERE.

Reginald Kaigler — How My Philosophy Has Evolved!

I talk about how I began the man that I am today. I also discuss why so few black people want to become leaders in their community.

Friday, November 13, 2015

Akil Alleyne — Dear Yalies: Stop Asking to be Intellectually Pampered

College students should tackle prejudice through dialogue, debate, and direct action, not appeal to administrators to fight those battles for them.

Wednesday, November 11, 2015

Starbucks XMas Protests = Right-Wing Political Correctness

Dr. Fitz N Dinka — Bad Policymaking: A Recipe to National Asphyxiation

One of the most strategic driving forces behind the wellbeing of a society or an economy is policymaking. The various policies laid out by policy makers go a long way to either ameliorate different aspects of a society and hence the economy or hold it back.

Policymaking is the act of creating laws or setting standards for a government, organization or business. These changes usually come as a result of the identification, monitoring and evaluation processes where trends are uncovered, or as a direct result of a pressing situation within an organization or a society.

In an ideally running society, the government makes policies for the protection and wellbeing of the citizens and population at large, and to ensure a better and smooth running of the economy. Some policies however, especially within corrupt governments are passed for selfish reasons. Lawmakers generally are people of position, power and wealth. They may run or oversee businesses, whose interests naturally have to be protected. They are well in position to do so. Where selfishness and greed surpasses rational reasoning, policies will be made that will protect businesses even at the expense of the wellbeing and wishes of the society. It is a common practice worldwide.

Read the full article HERE.