Tuesday, January 31, 2012

GOP and Dems struggle with Econ 101

Sen. Brent Waltz, R-Greenwood, who was among nine Republican senators to vote against the bill last week, was the single “no” vote in the committee Monday. Waltz said he believes the proposal could cost the state jobs and won’t raise wages for Indiana workers...
Wow! Lower labor costs could reduce the quantity of labor demanded? OK...

Opponents say the law only leads to lower wages and poorer quality jobs. 

When you hear someone say "only" about a change in a public policy, you know that they're dupes or demagogues. Will it lead to lower compensation for those within the cartel? Yes. Will it lead to any benefits? Yes, in fact, it will yield net benefits. (That said, I expect the benefits to be modest but not huge.) To note...

Many experts say states’ economies respond to a mix of factors, ranging from swings in the national economy to demographic trends, and that isolating the impact of right-to-work is nearly impossible.


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