Why Ronald McRobot Will Soon Serve Us

A minimum wage hike causes labor intensive fast food restaurants to exit the market, capital intensive restaurants to enter and the number of jobs to drop.

A Mozart String Quartet and Health Care

A question: How does a Mozart String Quartet resemble health care? The answer: Both have Dr. Baumol’s Cost Disease Eighty-eight year old economist William J. Baumol expressed concern in today’s NY Times about health care cost control. Comparing health-care to…