The Death of Economics 101 ft. Mexie

One way or another, econ101-ism is at the heart of the debates over why we can't have good policies. Good thing it's wrong!

0:00 Intro
2:24 Demand & Supply
8:06 The Minimum Wage Debate
15:34 Making Sense of the Minimum Wage
20:59 Rent Control
31:31 The Influence of Econ101 (Mexie)
40:42 The Brain Worm of Economics

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Produced by Hobbie Stuart
Artwork by Jacob Cob
© 2021 Unlearning Economics
I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!

References (in rough order of appearance):

Thomas Sowell documentary:
Thomas Sowell: Common Sense in a Sens...

Vaush’s video on the minimum wage:
This Anti-Minimum Wage Video Had Me F...

The Rise of American Minimum Wages, 1912–1968, Price V. Fishback and Andrew J. Seltzer

The Elusive Employment Effect of the Minimum Wage, Alan Manning

Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania, David Card and Alan Krueger

Econned, Yves Smith [source of Reed Garfield quote]

Minimum Wage Effects Across State Borders: Estimates Using Contiguous Counties, Dube et. al
The Effect Of Minimum Wages On Low-Wage Jobs, Cengiz et. al

Neumark's research and Dube and co's critique:
Minimum Wages And Employment: A Review Of Evidence From The New Minimum Wage Research, David Neumark and William Wascher
Myth or Measurement: What Does the New Minimum Wage Research Say about Minimum Wages and Job Loss in the United States?, David Neumark & Peter Shirley
Credible Research Designs for Minimum Wage Studies: A Response to Neumark, Salas and Wascher, Allegretto et. al

Publication Selection Bias in Minimum‐Wage Research? A Meta‐Regression Analysis, Doucouliagos and Stanley
15 Years of Research on US Employment and the Minimum Wage, Wolfson and Belman

The Effects on Employment and Family Income of Increasing the Federal Minimum Wage, CBO
Dube’s twitter thread on the CBO
Twitter: 1358888317622755329

The Very Idea of Applying Economics, Thomas Leonard

If you want more on why demand-supply has been falsified for the labour market, read:
An econ theory, falsified, Noah Smith https://noahpinionblog.blogspot.com/2...

Research suggests there's an easy way to reduce suicide rates: increase the minimum wage, Jeff Spross https://theweek.com/articles-amp/8884...

Destiny/Burgis Rent Control Debate
"What you've said is empirically inco...

Time for Revisionism on Rent Control?, Arnott

IGM Survey of Economists on Rent Control:
https://www.igmchicago.org/surveys/re...

Bloomberg article on Rent Control:
https://www.bloomberg.com/opinion/art...

The Effects of Rent Control Expansion on Tenants, Landlords, and Inequality: Evidence from San Francisco, Diamond et. al

Considerations on Rent Control, Josh Mason https://jwmason.org/slackwire/conside...

Economism, James Kwak

Toder, Eric & Rueben, Kim. (2007). Should We Eliminate Taxation of Capital Income?.

Moffitt, Robert and Wilhelm, Mark, Taxation and the Labor Supply: Decisions of the Affluent (June 1998). NBER Working Paper No. w6621, Available at SSRN: https://ssrn.com/abstract=160968

Keynes’ General Theory free online (source of Keynes quote): https://www.marxists.org/reference/su...

Extra references from pinned comment:

The Importance of Study Design in the Minimum-Wage Debate, Daniel Kuehn
https://files.epi.org/2014/importance...

EPI data on the minimum wage: https://www.epi.org/chart/state-of-am...

Diamond and McQuade (2019): https://www.semanticscholar.org/paper...