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Deirdre McCloskey on the Unsavory History of the Minimum Wage

Monday, February 13, 2017 14:09
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(Don Boudreaux)

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As I’ve said on other occasions: compared to (most of) today’s advocates of the minimum wage, the minimum-wage’s early advocates had far worse ethics but a far better grasp of economics.  These early advocates of the minimum wage understood not only that the minimum wage destroys jobs for some low-skilled workers, but also that the low-skilled workers most likely to suffer the consequent job losses are those who are held in lowest esteem by their fellow human beings.



Source: http://cafehayek.com/2017/02/deirdre-mccloskey-on-the-unsavory-history-of-the-minimum-wage.html

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