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The Ledger 07-12-13
The Ledger 07-12-13
(AEI Economics Ledger) If you have trouble reading this message, click here to view it as a web page.
CHART OF THE WEEK Per capita net worth plummets more than $100,000
Passing Corker-Warner. Phil Swagel: Holding out for the unattainable but theoretically perfect housing finance system thus cements in place the nationalized outcome least favored by proponents of a marketbased approach. Stopping Corker-Warner. Alex Pollock: It seems more logical to simply drop the guarantee. Peter Wallison: The scheme envisioned in Corker-Warner will work for a while, as long as housing prices keep climbing....Eventually, it will all come apart, as it did in 2008.
In other news
D.C. lawmakers voted to raise the living wage to at least $12.50 for large retailers this week, causing Wal-Mart to pull plans on opening three new stores in the district. From the AEI archives. Kevin Hassett and Michael Strain (2013): Facts clearly demonstrate that raising the minimum wage is a bad idea. Kevin Hassett (2005): The gains to Americans from Wal-Mart's lower prices are extraordinary Wal-Mart directly and indirectly saved the average U.S. household $2,329 in 2004. Everyone wants a piece of the apple -- I mean, federal -- pie. Stan Veuger: It seems quite unnecessary for the federal government, for example, to subsidize food stamps for Connecticut residents, as Connecticut is perfectly capable of funding those itself.