Saturday, April 21, 2012

Politics and the Payroll Tax

In Principles of Microeconomics, I discuss the economics basics of the labor market that is competitive and that is a monopsony. I also discuss other labor market issues, such as minimum wages (price floor) and the payroll tax. The later two, I only look at the general issues of how government intervention can have a negative effect on overall economic welfare within the market, but avoid all the political issues - as the course is not a political science course, not because it is not an important issues. So, if you are interested in some of the political debate, here is an interesting article from the New York Times.

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