Flawed regulatory policies and decisions have inflicted tremendous damage on the biotech industry and on American consumers.
inflation
There is no doubt that inflation is upon us. The oldsters among us remember the bad old days, 13% mortgages. But as with any economic stress, it falls unevenly. Elaine Schwartz from Econlife shows the problem in two graphs, courtesy of the New York Times.
This week I took a dive into the rising price of food and the way Subway has run afoul of labeling. Then I read a piece on the tradeoff between taking a risk and an abundance of caution.
A meme posted by "Patriotic Millionaires" on Facebook claims that the federal minimum wage of $7.25 in 2009 is worth $6.11 in today's dollars. That is mathematically incorrect and economically illiterate.