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Affichage des articles du août, 2015

Compétences et opinions

Je vous propose une petite analyse rapide des résultats de ma petite expérience, cette fois-ci en français. Les données qui suivent sont établies sur la base de 213 réponses collectées du 27 août à 10h37 UTC au 29 août à 8h03 UTC. Sans grande surprise, le panel est massivement masculin (182, 85.4%) ; les 25-55 ans dominent très nettement (173, 81.2%), sont suivis des moins de 25 ans (31, 14.6%) tandis que les plus de 55 ans ne pèsent que 4.2% de l’échantillon (9 personnes).En moyenne, vous évaluez vos connaissances en mathématiques à 6.3 sur 10 avec une écart-type de 1.9 et une asymétrie à gauche assez prononcée (-0.47) — La note la plus fréquente est 7 sur 10. C’est en anglais que la note moyenne est la plus élevée (7) ce qui, bien sûr, traduit un biais de sélection puisque le test était en anglais. Vos notes en matière de compétences économiques et financières, enfin, se distribuent de manière très uniforme : la moyenne se situe à 5.4 avec un écart-type très élevé de 2.4 et une asym…

My Little Experiment

First of all, I’d like to thank all the participants to my little experiment with a special mention for those who helped me to get answers beyond the narrow circle of my followers. As I am writing this, the number of answers has just crossed the 201 mark — which is, to be honest, much more than what I expected.That was a test. I’m not working on an academic research paper (as some of you rightly noted, the panel of respondents would have been highly biased toward economists and financial markets professionals) but on pedagogical tool I intend to use with my students. I was just trying to come up with something workable and needed a little bit of user testing: I had much more than this since some of you (I don’t know who, by the way) provided me with a number of very useful suggestions. So, again, thank you everybody!Spoiler alert: if you want to do the test, do it before reading what follows.The raw data is there. I have just removed the answers to the last question (“According to you…

The minimum wage consensus

If a minimum wage of 15 dollars per hour won’t kill jobs then why not increase it to 100 dollars?Yeah, I know, it’s a strawman argument. Everybody agrees that a 100 dollars minimum wage would massively destroy jobs (anywhere on earth) just like everybody agrees that a one dollar minimum wage wouldn’t have any effect whatsoever on employment (at least in the United States). As far as reasonable and economically literate people are concerned, the debate is about the 15 bucks threshold. Call me Dr Obvious if you want but I think there is a very important point here: both side of the argument agree that, above a given threshold, a mandatory minimum wage would destroy jobs.Let me summarize. On one side, Team Free Market (and, to be clear, I’m part of that team) argues that by raising the minimum wage to 15 dollars the US government will outlaw the employment of people whose skill-sets is worth less than 15 dollars an hour — that is unexperienced and/or underqualified workers. On the other …