Price floors on labor have unexpected costs, including convenience and customer service.
"A thicker view of rationality accepts the view that people live in a world with social norms that both condition and constrain our actions." ~ Anthony Gill
"Making big and simple promises is the easy part of politics. Telling constituencies that there may be difficult and painful trade-offs is difficult." ~ Anthony Gill
"Individuals who voluntarily leave a gratuity at the end of a meal indicate that they appreciated the service and are happy to contribute more to the server than is legally…
"Whereas most price discrimination is instigated from the side of the seller, tipping represents a cultural mechanism that obligates consumers to reveal their own preferences and share their consumer surplus…
"Tipping turns out to be an ingenious mechanism for solving principal-agent problems in a number of service-oriented industries." ~ Anthony Gill
"When a government policy is enacted, it often seeks to change individual behavior. But human beings are clever and will often respond to policy initiatives in ways that either counteract…
"The desire to dare remains strong in society. And that desire to dare is fostered by a knowledge that others will be there to help when things go wrong." ~…
"Is it possible that by placing bets on who will win the race early on, government officials actually end up fixing the race so the best car doesn’t always win?"…
"To the extent that these app-based companies are about matching unused resources, no matter how small, to those who want to employ those resources, this policy undermines the most beneficial…