Two economic illiterates "debated" last night and one topic they agreed upon was that the government should use wage and price controls when it comes to the minimum wage laws.
Of course they disagreed on the level. But that was just so we would think they represented a choice for us on that concept.
The truth is, the people least able to withstand having governments' foot on their throat are the same people who get suffocated by this kind of law. Even The NY Times, a far left tabloid, at one time said the minimum wage should be ZERO.
But more important than economics, the law is a violation of basic human rights and is morally repugnant. It's a fundamental concept and this blog is about fundamental things. In my view people who actually care about the little people should familiarize themselves with the concept. We can safely conclude that these two politicians have missed that concept, perhaps even purposely.
Lots of well meaning people misunderstand this concept because minimum wage laws sound like they're compassionate. Therefore it's a pretty popular policy politically. Often bad ideas look good at first glance. Many people haven't considered this concept.
These two mopes agree that it's okay to do harmful things to poor people if it helps them get votes.
Here is a link to an excellent article about the NYT position back when they got it right, for a change.
Jon Miltimore is the author and he gets it right pretty much all the time.
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