The high cost the cheap is my quick way of saying that there is a social economic and moral price to be paid for americas addiction to cheap stuff. Everything from clothes to food to gas the cost is paid mainly by the men and women who sell cheap stuff. But struggle to pay their bills. Meanwhile, increasingly cheap technology is creating a shared economy that offers value and convenience to consumers but it has potentially troubling consequences for limo drivers hotel owners and others. Today i am going look at how some companies and cities are responding to the high cost of cheap. The then well look at some of the painful side effects of a world thats a wash in cheap oil and finally ill examine how technology has made talk so cheap and powerful but social media has become a weapon of public shaming that can cost someone their job. But first not everyone is satisfied with mcdonalds attempt to address of high cost of cheap. This week the burger chain said it will boost the minimum wage
Stossel u, thas our show, tonight. [cheers and applause] and now, john stossel. [cheers and applause] john thank you, you students are unusual. You have a special interest in liberty. Moss people dont which makes me wonr, how many of you ever discuss liberty on your campuses . How many of your professors discuss it . [laughter] how many of them discuss social justice . Many more. I not surprised given the love for Big Government on big mpuses. Most ofyour professors probably dont know muc about basic economics, which is why e titled this show stossel university, and our professors are ab biand jhn, here to tell students about what they should learn about economics. You cant do it all. First thing first thing to learn is that intentions are not esults. Judge polics by results and not stated intentions. Second, people in the Public Sector are just as selfinterested and no more enlightened thanpeople in the private sector. John nice or vicious as everybody else. Absolutely. John they are
Stossel u, thats our show, tonight. [cheers and applause] and now, john stossel. [cheers and applause] john thank you, you studets are unusua you have a special interest in iberty. Moss people dont which makes me wonder, how many of you ever discuss liberty on your campuses . How many of your professors discuss it . [laughter] how many of them discuss social justi . Many more. Im not surprised gven the love for Big Government on big campuses. Most of your professors probably dont know much about basic economics, which is why we titled this show stossel univeity, and our professors are ab biand john, here to tell students about what they should learn about economics. You cant do it all. First thing . Irst thing to learn is that intentions re not results. Judge policies by rsults and not stated intentions. Second, people in the Public Sector are just as selfnterested and no more enlightened than peple in the private sector. John nice or vicious as everybody else. Absolutely. John they ar
Stossel u, thats our show, tonight. [cheers anapplause] and now, john stossel. [cheers and applause] john thank you, you students are unusual. You have a special interest in liberty. Moss people dont which makes me wonder, how many of you ever discuss librty on your campuses . How many of yourprofessors discuss it . [laughter] how many of them discuss social justice . Many more. m not surprised given the love for Big Government on big campuses. St of your professors probably dont know muh about basic economics, which is why we titled this show stossel university, and our professors re ab biand john, here to tell students about what they should learn about economics you cant do it all. First thing . First thing to learn is that intentions are not results. Judge policies by results and not stated intentions. Second, people in the Public Sector are just s selfinterted and no more enlightened than people in the private sector. John nice or vicious as everybody else. Absolutely. John they a
Said a considerable period of time might be Something Like six months and what people wanted to know is a reflective discussion that the fed had, and it looks like not necessarily. Janet yellen gave a week or so ago what some people describe as the most dovish speech by a fed chair possibly ever. Right. So it took maybe a little bit longer for the message to get through to the markets. Well see how long this lasts, but its a pretty decent reaction to the stock market. And to your point she had already walked back in laying the framework for why the unemployment situation in this country is still weak, saying its still cyclical, saying the fed needs to do more until its healed more. Made the case. The minutes would seem to suggest more members wanted to make sure they didnt process jumping to any tightening before they were ready for it, before the economy was ready for it. Is this something to build on, the last couple of days or just a dead cat balance a momentarily blast of enjoyment