Professor Stabile’s main thesis is that most classical economists cared about social justice, which he equates with a living wage…
By the end, however, it becomes clear that Stabile is pushing a viewpoint after all: he is invoking classical political economy on the side of labor unions. This is not the same as a ‘pro-labor’ . . . → Read More: Review of Donald Stabile, The Living Wage
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Is the Bailout Justified?
QUESTION: We hear that the feds HAD to bail out Fannie and Freddie because of the terrible consequences of letting them fail. How much of that is real and how much is bunk? I’d have thought that if the companies go bankrupt, their stock sells for pennies on the dollar and the new owners can . . . → Read More: Is the Bailout Justified?