Target the Future

Target stores are raising their employees’ minimum wages to $11 per hour immediately, with a pledge to hit $15 per hour by 2020.

This may seem like a victory for the Democratic platform to raise all workers’ pay to a livable wage, and in many ways it is. But it’s also an important victory for the free market, which is proving that the cyclical depression of workers wages was indeed a temporary, demographically driven problem which will be overcome. It just takes a tremendous amount of time – really a full generation.  More importantly, it shows the direction of retail and possibly the service industry as a whole does have a future as an important part of a dynamic economy. Continue reading

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A Big Fat Target

Target corporation is the victim of the biggest credit card security breach to date, affecting up to 110M cards. That’s an amazing statistic by itself, but the problem is even worse – it remains unclear exactly what happened or if other companies are themselves targets of the same thieves.

But that is only to be expected in a system that is only as secure as the weakest link – and the potential gain by hacking it is nearly unlimited money. There is little doubt that even before we learn exactly what happened at Target it will happen again, on scales both large and small.

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