Phrase by 'Steve Hanke'
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High mandated minimum wages will throw people out of work and onto the welfare rolls in cases where unemployment benefits exist. When it comes to welfare payments, they obey the laws of economics, too. Indeed, if something - like unemployment - is subsidized, more of it will be produced.
Author: Steve Hanke - American EconomistPeople , Work , Will , Economics
The most important lesson to take away from allowing the minimum wage and unemployment benefit data to talk is that abstract notions of what is right, good and just should be examined from a concrete, operational point of view. A dose of reality is most edifying.
Author: Steve Hanke - American EconomistView , Good , Important , Reality
Following its recognition as a state in 1832, Greece spent most of the remainder of the 19th century under the control of creditors. The pattern started with a default in 1832. In consequence, Greece's finances were put under French administration.
Author: Steve Hanke - American EconomistControl , Started , Recognition , Greece
Following Greece's defeat at the hands of Turkey in 1897, Greece's fiscal house was entrusted to a Control Commission. During the 20th century, the drachma was one of the world's worst currencies. It recorded the world's sixth highest hyperinflation. In October 1944, Greece's monthly inflation rate hit 13,800%.
Author: Steve Hanke - American EconomistWorld , Hands , Control , October
Contrary to what most people think, bank money is much more important than state money. In Greece, for example, bank money makes up 84.26% of the total money supply.
Author: Steve Hanke - American EconomistPeople , Think , Money , Important
When Ronald Reagan was elected president for his first term in 1980, he received strong support from the so-called Sagebrush Rebels. The Rebels wanted lands owned by the federal government to be transferred to state governments.
Author: Steve Hanke - American EconomistFirst , Support , Strong , Government
When I was operating as one of President Reagan's economic advisers, an early assignment was to analyze the federal government's landholdings and make recommendations about what to do with them. This was a big job. These lands are vast, covering an area six times that of France.
Author: Steve Hanke - American EconomistJob , Big , Government , Economic
In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the financial press was filled with reportage on Bitcoin and its dramatic price increase.
Author: Steve Hanke - American EconomistWorld , Late , Price , Financial
In April 2013, Nathaniel Popper of 'The New York Times' reported on Bitcoin in an article titled, 'Digital Money is Gaining Champions in the Real World'.
Author: Steve Hanke - American EconomistNew , World , Money , Real
In January 2013, one could buy a Bitcoin for about $13. By late November, one Bitcoin would have set a buyer back over $1100.
Author: Steve Hanke - American EconomistBack , Over , Late , November
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