Would you rather work for $5.15 an hour or be unemployed at $7.50?

Today I was doing some research on economic freedom and uncovered this 1970 gem by Leo Rosten:
Fenwick and a friend of mine from Washington, a sociological Meistersinger named Rupert Shmidlapp, were talking about minimum wages, which Congress had just voted to raise from $1.25 an hour to $1.40—and ultimately to $1.60. Fenwick stunned Shmidlapp, [...]

Politics of the Living Wage in Chicago

Here is interesting commentary by Robert Novak on death of the living wage in Chicago. It looks far from over, however. Wal-Mart and Target still face enormous risk of political takings in Chicago.

Wal-Mart Politics in Chicago

Interesting commentary by Professor Roberts on suddenly understanding reality in Chicago.

A Backlash AGAINST the Minimum Wage?

The only thing we heard prior to Congress’s recent vote on a higher mandated wage was that Republicans were acting before the November elections in order to appear more friendly to low-wage workers.
Of course, we might never hear widespread talk of the backlash against Chicago’s recent minimum wage hike due to the fact that [...]

Politics of the Minimum Wage

Check out this thoughtful commentary by Brad Smith on the recent politics of the minimum wage. The GOP sure has put itself in a bind by losing its principled limited government philosophy.

Political Opportunism and Economic Ignorance

Once again political opportunism and economic ignorance are likely to hurt low-wage workers. Two leading economists are now scrambling to reduce the unhealthy part of the ultimate outcome.
Update: Check out this economically literate commentary by Don Boudreaux.
BTW, I wonder how NM’s reps will come out on this? Stay tuned.

Law of Demand “Ideologues?”

I notice that the law of demand reflects reality. When the price of something goes up people buy less of it; and when the price goes down people buy more of it. Why do “progressives” want to suspend this reality in the case of wages? Read Don Boudreaux’s excellent description of reality, including why he [...]

Minimum Wage, Maximum Folly

In this article, Walter Williams is once again on target in his discussion of the folly of minimum wage hikes.
New Mexico’s politicians should heed his sage advice.

Minimum Wage Nonsense

Last Thursday afternoon I testified in opposition to Ben Lujan’s minimum wage bill before the house Labor and Human Resources Committee. The hearing was scheduled to begin at 1:30 and was gaveled to order at 1:55 (so much for economizing on labor and human resources — but after all this is government).
The economic nonsense I [...]

How the “Living” Wage Reduces Wages

You may already know that Santa Fe’s “living” wage law will put some unskilled workers out of work. That means, of couse, that their wage suddenly becomes ZERO.
But unemployed, unskilled workers will look for work where they can find it. One place they can find work is with businesses that are exempt from the “living” [...]

Capitol Report New Mexico
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