A minimum wage is a government-mandated wage control that takes negotiating power away from workers and employers. There is a rare near consensus among economists that binding price controls distort economic activity, but politics often gets in the way of seeing the fallacy of a wage control. Setting a minimum wage floor above a market wage results in unemployment, especially for low-skilled workers. It also slows future job creation and pushes unemployed workers who would take a wage at less than a minimum wage into long periods of unemployment and dependency on family or taxpayers.
How Well Are Texas Public Universities Serving Their Students?
This paper represents the first installment of what will be an ongoing study of Texas public universities. This first phase, released in March 2024, is a review of three leading, existing ranking protocols, which measure free speech, academic quality, and Return on Investment by major and program. Our next installment will measure and report on...