Private Profits, Social Costs and The Minimum Wage

The concept of Private Profits and Social Costs is implicitly easy to understand.  It is far more difficult to recognize.  Simply put, there are areas of economic activity where profits accrue to a few in the private sector but produce significant social costs that are paid by taxpayers. Currently, there is a political effort toContinue reading “Private Profits, Social Costs and The Minimum Wage”