So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment.

In our country, learned ignorance is on the rise.

The goal in the end is not to win elections. The goal is to change society.

People who are complaining about the Fed are people who've been predicting runaway inflation for five and six years, and it hasn't happened.

Evidence and expertise have a well-known liberal bias.

Consumer spending is now plunging at serious-recession rate ... even if the rescue now in train succeeds in unfreezing credit markets, the real economy has immense downward momentum. In addition to financial rescues, we need major stimulus programs.

Bad ideas flourish because they are in the interest of powerful groups.