Articles

HICKS: Piecemeal dismantling of liquor laws a bad idea

The regulation of alcoholic beverages in Indiana contains a vast web of laws that apply differently to different types of businesses. Over the past 80 years, firms across Indiana have in good faith made investment and location decisions based upon these laws.

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HICKS: Minimum wage arguments make little sense

It is important to understand what is going on with the minimum wage, especially since a group of Hoosier lawmakers is proposing a 39-percent increase this year. I think both sides are talking past each other.

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HICKS: Cheap petrol might lead to full-blown recovery

Because of the gasoline-price drop, businesses might be more profitable and might be able to use the extra revenue to hire more workers or make other investments. If they pass their profits on to owners, this will mean more money for retirees and other stockholders.

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HICKS: Need to work on Christmas? You’re valuable

Wages are set by something like auction markets. In these markets, the willingness to pay a certain wage is balanced by workers’ inclination to sell their services. Rare skills in high demand get paid more than common skills.

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HICKS: Politics is driving the minimum wage push

Wages are largely determined by labor markets. So, if the minimum wage is set above the market wage, some workers will lose jobs while some will be better paid. There is no disagreement by anyone with a modest understanding of the matter, but low-paid jobs are not the issue.

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Hicks: Economist’s ‘truthiness’ unmasks Obamacare

Jonathan Gruber’s micro-simulation economic model is highly sought after because it replicates the version used by the U.S. Congressional Budget Office. Thus, it can be used to outwit that organization’s candid assessment of the effects of a policy proposal.

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