All Posts Tagged With: "unskilled workers"
Minimum Wage, Maximum Folly
The big Associated Press story for last October 11 was that “More than 650 economists, including five winners of the Nobel Prize for economics, called Wednesday for an increase in the minimum wage, saying the value of the last increase, in 1997, has been ‘fully eroded.’ ” Among these economists were Nobel laureates such as [...]
1Mar2007 | Walter E. Williams | 0 comments | ContinuedPrice Floors, Surpluses, and the Minimum Wage
Last month I discussed the distorting effects of government-imposed price ceilings. Not content to limit the disruptive impact on economic decisions to price ceilings, governments are also quite willing to impose floors under which prices cannot legally fall. Like price ceilings, price floors disrupt market cooperation and have consequences quite different from those advertised by [...]
1Dec1998 | Dwight R. Lee | 28 comments | Continued-
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