Author Archives: mp081695
New Age Equilibrium Wage
The study of economics has a tendency to assume consumers, producers, workers, and/or any other agent, has a mechanical nature about them. With regard to the issue of minimum wage, such an ideological distortion is definitely problematic. Why is it problematic? The answer is simple. Firms always look for, or are at least open to, ways to lower costs. One of those ways is to lower variable costs, which means slashing the compensation of the workers. There is obviously a flip side to this. No worker actually wants to receive lower wages because most if not all workers see themselves as worth more than they really are per hour. However, economics assumes that people will adapt to these market-driven changes in wages or pursue other value producing opportunities. That is clearly unrealistic, and hence, the existence of labor unions. Continue reading
On-Screen Interview with Chris Brown on Alternative Energy
The Lexington Universal Circuit interviews Chris Brown, a China energy consultant with Guymard Consulting, on the domestic and international future of alternative energy. More specifically, Mr. Brown delves into the obstacles that obstruct the global shift away from oil and other fossil fuels. A great deal of discussion is focused on the positions China and the United States of America’s have on this issue. Special thanks to the Bernard L. Schwartz Communication Institute for hosting the interview. Continue reading
Scott Brown is America’s New Superman
In a shocking victory, Republican Scott Brown was fortunately the candidate to replace the Democratic 46 year veteran, Teddy Kennedy, for the Massachusetts Congressional Senate seat. Given that Brown’s opponent was Martha Coakley, a Democrat who held the prestigious position of Massachusetts Attorney General, he really should have lost. Though some might disagree, Coakley was probably better suited for the Senate seat because of her laudable background. However, this particular election was not just a regular Senatorial election, but rather the election that decided the fate of the monstrous healthcare bill in Congress.
First, Scott Brown really only ran on one platform: to shut down the year long discussion on healthcare legislation. According to the Senator’s website, Brown writes, “I believe that all Americans deserve health care coverage, but I am opposed to the health care legislation that is under consideration in Congress and will vote against it. It will raise taxes, increase government spending and lower the quality of care, especially for elders on Medicare. I suppo Continue reading
Kinda Late to Help Haiti
As everyone now knows, on January 12th Haiti had been struck by a devastating earthquake that killed thousands of people. According to the United States Agency for International Development, the estimated death toll is 100,000, and nearly 3 million people have been affected. Clearly, this is a terrible tragedy.
So, what was the U.S. response to this catastrophe? Surprisingly, America had a better response time to supporting Haiti than it did its own city of New Orleans during the aftermath of Hurricane Katrina. Within a day, the U.S. sent over American soldiers, firefighters, paramedics, and humanitarian workers. In fact, President Barack Obama promised Haiti $100 million in hard earned taxpayer dollars, and has stated that much more aid is on the way. Continue reading
I Love the Game Google is Playing
The New York Times reported that Google plans to shut down all operations in China due to assaults from hackers, as well as, China’s attempts to limit free speech online [1]. Although this makes Google sound heroic, it hardly sounds like the truth in its totality. Google is a multinational corporation that has to cater to shareholders, so financial straits are most likely the real reason for the anticipated departure.Google has been cooperating with the Chinese government’s demands for internet censorship for years. In fact, Phillip Lenssen’s blog, blogoscoped, provides some shocking screenshots of how the censorship materializes itself on Google’s China based search engine [2]. After viewing Lenssen’s blog post, it is clear that search engine censorship is probably the least important reason why Google is planning to leave China. With over 1.3 billion people to capitalize off of, there is no reason why human rights trump the prospect of profit. Continue reading
U.S. Foreign Policy: Time to Plant Olive Trees in China’s Backyard
Shortly after the atomic bombings of Hiroshima and Nagasaki, it became unquestionably clear that the United States of America had eluded the lion’s share of World War 2’s unprecedented damage, and emerged a superpower. In light of the rapid technological and economic developments America had undergone during and after the post-war period, the country’s borders had transformed themselves into gates which opened into the kingdom of heaven. The nation was not only recognized as the land of abundance and prosperity, but was also given the great responsibility of acting as the world’s sole guardian and protectorate. Uncle Sam even established himself as the de facto policeman of the global community, orchestrating everything from the international flow of wealth, to the political affairs of any one nation Continue reading