Restaurant Shocks: Maximum Impact of the Minimum Wage

Restaurant Shocks: Maximum Impact of the Minimum Wage

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Raising the federal minimum wage has long been near the top of the agenda for the Democratic party. It’s remained stagnant at $7.25 for more than a decade, and Joe Biden wants to more than double it to $15 if he’s elected president. That increase would have a disproportionate effect on the profits of businesses … Continued

iHeartMedia: Radio’s Long Game

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Creative destruction displaces obsolete products and services—along with the aging companies that provide them. Austrian economist Joseph Schumpeter, who coined the phrase, called it “the essential fact about capitalism.” It’s a process that explains why Tesla exists and the Durant-Dort Carriage Company doesn’t. But a late 19th century contemporary of Durant-Dort remains alive and well … Continued

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