Today's interesting guests
Usually I try to answer "I've Been Wondering" questions on Fridays but this guest has been tough to coordinate schedules with so I thought I'd have her as soon as she could make it work. Leilani Arthurs is an associate professor of geological sciences at the University of Colorado and we'll tackle an interesting listener question: Is it (or might it become) possible to prevent the eruption of a volcano that would be extremely destructive if it were to erupt on its own schedule and in its own way?
My friend Don Boudreaux is a professor of economics (and former department chair) at George Mason University. He's the proprietor of a great website CafeHayek.com and I encourage you to sign up for the free daily emails from that site. There's been a lot of ink spilled over decades about the minimum wage. Most people on the left argue that it has no negative impact on employment while most conservatives and most rational economists argue that a minimum wage that's too high crushes employment prospects for those who most need their first jobs and some income. Those are usually minority teenagers. There is a theory that suggests how minimum wage hikes could correspond with increased employment. It's called monopsony theory. But is it likely to be a real thing in practice? We'll ask Don about that as well as about a listener question: Can the current spate of inflation be reversed; in other words, could wages and especially prices fall back to pre-pandemic levels?
Unions are a small part of private sector employment but they're very busy striking right now
Strikes are sweeping the labor market as workers wield new leverage (msn.com)
Threaten a federal employee, go to federal prison
In this supply chain chaos, where's the secretary of transportation?
Why don't I feel as good about this Gallup Poll as you might expect?
Americans Revert to Favoring Reduced Government Role (gallup.com)
The last major US social media company is leaving China; they should have done it sooner
Wait, you're spending HOW much more money on the homeless?
Sorry, I don't need this job more than I need to make my own medical decisions
Allison Williams leaving ESPN over mandatory vaccination policy (usatoday.com)
Japan's COVID rate has plummeted...but why?
Vaccines, masks? Japan puzzling over sudden virus success (apnews.com)
Former Secretary of State Gen Colin Powell passed away today at the age of 84.
Media reports say that the cause was complications from COVID; General Powell had been diagnosed with a blood cancer (multiple myeloma) that reduced his body's ability to fight off infection. Below, two videos: One of Fox News reporting his passing the second is entitled "Great Americans - Colin Powell", part of a series from the National Museum of American History. Colin Powell was national security advisor, chairman of the Joint Chief of Staff (the youngest ever), secretary of State, and just an incredible success of a man...though not without being involved in some controversy that he recognized and regretted later, when he was part of the Bush Administration's erroneous claims regarding Iraq that led us into that war.