Cost of living

The West Coast Migration: How California’s Battle with Climate Change Has Affected the Cost of Living

(Source) Boasting the fifth largest economy in the world, the Golden State is a beacon for various American industries, such as entertainment, technology, and agriculture. Yet population growth has halted. Some who reject the “California Dream” attribute the decline in growth to a so-called West Coast migration, pointing to Tesla’s recent move to Texas, along with that of tens of thousands of other Californians. Others attribute it to a baby bust and a downward trend in international immigration. While these factors, along with the devastation of an international pandemic, have led to the state’s population standstill, the high cost of living seems to remain at the heart of the issue. Although housing costs are largely to blame for the rising cost of living, numerous natural disasters have posed an insurmountable direct and indirect cost to residents. California’s public policy response to climate change could serve to foreshadow what is to come for the nation as a whole.  Among the most outspoken states in favor of zealous climate change policy, California is also one of the most vulnerable, encountering some of the first largescale effects of climate change in the United States. It has most notably been struck by worsening drought, [read more]

What to Do with the Minimum Wage: Counter Arguments (Part Two)

By Daniel Sperling The previous blog post What to Do with the Minimum Wage: Pro Arguments (Part One), discussed the history behind minimum wage law as well as the proponents of a minimum wage increase and their respective arguments for increasing the minimum wage. This blog post will address the arguments against increasing the minimum wage while analyzing the overall complexity of the debate on minimum wage. Just as there are a host of arguments outlined in favor of increasing the minimum wage, there are also many arguments in opposition to any minimum wage increase. The Congressional Budget Office argued that while a minimum wage increase would benefit some families by raising their household income above the federal poverty threshold, it would also eliminate many jobs. In 2012 the Economic Policy Institute estimated that nearly 800,000 jobs could be lost as a result of a minimum wage increase. The Congressional Budget Office’s report estimated that an increase of the federal minimum wage from the current rate of $7.25 an hour to $10.10 would eliminate 500,000 jobs across the labor market, although it would increase the wages of 16.5 million workers. Similarly, the Congressional Budget Office projected that an increase in [read more]