Every so often, I see visuals that do a great job of illustrating various economic principles.
This Wizard-of-Id parody contains a lot of insight about labor economics. As does this Chuck Asay cartoon and this Robert Gorrell cartoon.
If you want to understand Keynesian economics, this Scott Stantis cartoon is a gem, as is the house-on-fire image in this post.
Regarding tax policy, the philoso-raptor explains supply-side economics and Paul Bunyan helps to illustrate why double taxation is so destructive.
You can also get clear messages about why a welfare state is economically destructive in this classic from Chuck Asay, as well as these home-made cartoons on riding the wagon vs pulling the wagon.
Regarding the minimum wage, I think Henry Payne effectively shows – in this cartoon and this cartoon – how mandating above-market wages is very bad news for those with limited skills. But this cartoon strip from Red Panels deserves special praise because it shows both what some people think and what actually happens.
Amen. I’ve always been mystified why some people don’t understand that jobs are only created when an employee is expected to generate net revenue.
In other words, there are no “magic boats.” Especially in the long run, companies will shed workers that hurt the bottom line.
P.S. Here are some of my favorites images that don’t involve economic principles.
- The real fight is looters vs. producers, not rich vs poor.
- The U.S. population pyramid becoming a cylinder.
- Pizza slices and the inequality paradox.
[…] are no “magic boats.” In the real world, businesses only hire workers when they expect that additional employees will […]
[…] But there will definitely be fewer establishments with fewer workers. […]
[…] If you want some minimum-wage themed humor, you can enjoy cartoons here, here, here, here, […]
[…] But there will definitely be fewer establishments with fewer workers. […]
[…] But there will definitely be fewer establishments with fewer workers. […]
[…] If you want more memes and cartoons about the minimum wage, click here, here, here, here, […]
[…] If you want more memes and cartoons about the minimum wage, click here, here, here, here, and […]
[…] If you want more memes and cartoons about the minimum wage, click here, here, here, here, and […]
[…] If you want some minimum-wage themed humor, you can enjoy cartoons here, here, here, here, […]
[…] are no “magic boats.” In the real world, businesses only hire workers when they expect that additional employees will […]
[…] are no “magic boats.” In the real world, businesses only hire workers when they expect that additional employees will […]
[…] are no “magic boats.” In the real world, businesses only hire workers when they expect that additional employees will […]
[…] are no “magic boats.” In the real world, businesses only hire workers when they expect that additional employees will […]
[…] are no “magic boats.” In the real world, businesses only hire workers when they expect that additional employees will […]
[…] If you want some minimum wage-themed humor, you can enjoy cartoons here, here, here, here, […]
[…] If you want some minimum wage-themed humor, you can enjoy cartoons here, here, here, here, […]
[…] If you want some minimum-wage themed humor, you can enjoy cartoons here, here, here, here, […]
[…] But there will definitely be fewer establishments with fewer workers. […]
[…] But there will definitely be fewer establishments with fewer workers. […]
[…] Redpanels, by the way, also have produced great cartoons on Keynesian economics, communism, the minimum wage, basic income, […]
[…] folks at Redpanels, by the way, also have produced great cartoons on Keynesian economics, the minimum wage, basic income, and […]
[…] If you want some minimum-wage themed humor, you can enjoy cartoons here, here, here, here, and […]
[…] Instead, she felt compelled to do the right thing because of jurisdictional competition. She was forced to acknowledge that bad policy in her city would explicitly backfire since economic activity is mobile. She had to admit that there are no magic boats. […]
[…] Whoever does the “Redpanels” cartoons is very clever. I’ve already shared ones on the minimum wage, universal basic income, and Keynesian economics. Now, here’s one on federal […]
[…] does the “Redpanels” cartoons is very clever. I’ve already shared ones on the minimum wage, universal basic income, and Keynesian economics. Now, here’s one on federal […]
[…] are no “magic boats.” In the real world, businesses only hire workers when they expect that additional employees will […]
[…] are no “magic boats.” In the real world, businesses only hire workers when they expect that additional employees […]
[…] an amusing cartoon strip on Keynesian stimulus from the same artist who gave us gems on the minimum wage and guaranteed […]
[…] an amusing cartoon strip on Keynesian stimulus from the same artist who gave us gems on the minimum wage and guaranteed […]
[…] an amusing cartoon strip on Keynesian stimulus from the same artist who gave us gems on the minimum wage and guaranteed […]
I can understand the arguments that some people make for the existence of a minimum wage. However, their arguments lack logic.
[…] from the same person who put together the “magic boats” cartoon strip about the minimum […]
[…] provides a reader with “everything” needed to understand an issue. Examples include the minimum wage, economic policy, the welfare state, supply-side economics, the tax code, Europe’s fiscal crisis, […]
[…] provides a reader with “everything” needed to understand an issue. Examples include the minimum wage, economic policy, the welfare state, supply-side economics, the tax code, Europe’s fiscal […]
[…] In One Cartoon Strip, Everything You Need to Know about the Minimum Wage […]
Its amazing for simple cartoons can explain difficult concepts. These should be used in every economics class. Brillant article.