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Milton Friedman

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Study: St. Louis to Lose 1,000 Jobs After Minimum Wage Increase

“The true minimum wage rate is zero—the amount an unemployed person receives from his non-existent job,” Milton Friedman wrote in Newsweek 45 years ago. Two economists writing about the decision of St. Louis city fathers to boost its minimum wage come to a similar conclusion.

Paul Krugman (Nicholas Kamm / AFP / Getty)

Moore vs. Krugman Throw-down at Freedom Fest

Heritage Foundation Distinguished Visiting Fellow and former Wall Street Journal contributor Stephen Moore squared off against New York Times columnist Paul Krugman in a war of economic arguments that pitted free market, supply-side economics against statist, Keynesian Obamanomics.