"I need a place to eat that's cheap but sounds fancy for Valentine's."
"How about a Venezuelan Steak House?"
"Venezuelan? Don't you mean Brazilian?"
"No. At a Venezuelan steak house there's no steak. Or meat. Or food. The head manager just berates you for an hour about how it's your duty to appreciate being there."
"...How much?"
"A billion bolivars. So about 50 cents."
"I'll take it."
Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts
Wednesday, February 14, 2018
Wednesday, July 12, 2017
Pajamas and Government
Listened to an interesting NPR story about pajamas.
Decades ago, some pajamas caught on fire. Kids died. So, the government required kids PJ'S to be fire resistant.
Manufacturers did so - by adding hazardous chemicals that soak into the skin. They didn't know this, however. It was only after studies that the problem was realized. So, the government banned those chemicals that they had encouraged.
Manufacturers switched to synthetics and other chemicals. However, children with sensitive skin can't wear them. They need untreated 100% cotton PJ's.
Which the government made illegal at the start of it.
A good anecdote for how regulations do not promote actual safety or higher quality of living.
Decades ago, some pajamas caught on fire. Kids died. So, the government required kids PJ'S to be fire resistant.
Manufacturers did so - by adding hazardous chemicals that soak into the skin. They didn't know this, however. It was only after studies that the problem was realized. So, the government banned those chemicals that they had encouraged.
Manufacturers switched to synthetics and other chemicals. However, children with sensitive skin can't wear them. They need untreated 100% cotton PJ's.
Which the government made illegal at the start of it.
A good anecdote for how regulations do not promote actual safety or higher quality of living.
Wednesday, June 21, 2017
Minimum Wage Laws
"The middle class didn't exist until federal minimum wage laws!"
False. Federal minimum wage started in 1938. America had a burgeoning middle class for at least 50 years prior to this. There was some state minimum wage laws, but mainly for women and children. Minimum wage laws have no causal connection to the beginning of America's middle class.
The more you know!
False. Federal minimum wage started in 1938. America had a burgeoning middle class for at least 50 years prior to this. There was some state minimum wage laws, but mainly for women and children. Minimum wage laws have no causal connection to the beginning of America's middle class.
The more you know!
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