Some economists believe minimum wages create distortions in the labor market. If you are an employer and unable to hire the one willing and able to work for the lowest wage, how else might you choose a worker? Is this fair? Why or why not? (Austrian)
The book gives the example of a man who treated Medicare payments as different from his out-of-pocket payments. If a Christian could save Medicare $100,000 by spending $20 of their own, should they? (Christian)
On average, women are paid less than men. What are the likely reasons for that? Should the government intervene with a law that requires firms to pay equal wages to those with comparable skills? (Feminist)
Biological evolution occurs very slowly; cultural evolution occurs less slowly but still slow compared to institutional and market evolution is.
Give some examples of these observations about the different speeds of adjustment.
Explain the relevance of these observations to economic reasoning. (Institutionalist)
The text presents an example of the demand for Burkhas, making it seem that Burkhas are simply another good.
Why do Islamic women wear Burkhas?
Do Burkhas celebrate the sanctity of womanhood or is the wearing of a Burkha demeaning? (Islamic)
Rent control today looks far different than the rent freeze New York City enacted after World War II. Most rent controls today simply restrict annual rent increases and guarantee landlords a "fair return" in return for maintaining their properties.
How would the economic effects of these post-1970 rent controls differ from the rent control programs depicted in your textbook?
Do you consider them an appropriate mechanism to address the disproportionate power that landlords hold over tenants?
If not, what policies would you recommend to address that inequity and the lack of affordable housing in U.S. cities? (Radical)
