Labor

Submitted by Brittany Hunter via The Mises Institute,

At the end of last year, Amazon unveiled, “Amazon Go,” a futuristic, fully-automated convenience store set to open its doors in Seattle, Washington, within the next few months. While this exciting new venture promises to make quick-stop shopping trips easier for busy consumers, critics are wary of this type of advanced automation, and fear its widespread use could jeopardize a vast amount of jobs.

There was some modest concern early this morning that the tenure of the new Italian cabinet of Paolo Gentiloni could be short lived, following a decision by Italy's constitutional court this morning, which might have approved a referendum on worker reinstatement rights.

With (hyper)inflation expected to hit 1,660% this year and 2,880% next, Venezuela's President Maduro hiked the minimum wage another 50% on Sunday, the fifth increase in the past year (for a total annualized increase of 536%), to help shield workers from 'economic war'.

As Reuters reports, the measure puts the minimum monthly salary at 40,683 bolivars - about $60 at the weakest exchange level under the state's currency controls, or $12 at the black market rate.

Submitted by Mike Shedlock via MishTalk.com,

One Word: Corruption

One Idea: Public Unions

One Person: House Speaker Mike Madigan 

On Saturday, union servitude came to an end in Kentucky: State Kills Prevailing Wages, Passes Right-to-Work

No such chance exists in Illinois despite the fact that corruption, prevailing wages, pension disasters, public unions, and the dire fiscal straits of Illinois all go hand in hand.

Many Americans looking forward to Trump's promise of tax cuts from his administration are going to get a rude awakening when they get their first paychecks of 2017.  While Trump has vowed to cut marginal income tax rates for individuals and corporations, the social security tax levied on the nation's top earners is set to soar in 2017 for top earners.