Saturday, August 31, 2013

If Paul Krugman's Wife Understood Anything About Supply and Demand Economics, She Would Throw Him Out of the House

But she is also an elitist economist denier of supply and demand economics. That's why she probably wasn't bothered the day he wrote:
 Bill Clinton presided over a substantial expansion of the Earned Income Tax Credit and a rise in the minimum wage, both doing a lot for African-American workers.[...]
I don’t usually write about what motivates my columns, but I thought it might be worth saying a bit more [...]  You see, my wife is African-American, which gives me at least a bit of a personal connection to race issues.
The minimum wage coupled with the poor quality public education, especially in the inner city, are the primary reasons a large core of black kids have little chance of getting a job. With their lack of basic skills, they are simply priced out of the market at the current minimum wage.  Currently, the unemployment rate for blacks between the ages of 16 to 19 is 41.6%--twice that of white youth in the same age bracket. Yes, Krugman should be proud of his support of a high minimum wage.

1 comment:

  1. What does does that mean ," You see, my wife is African-American"?

    Does he mean that she is of negro extraction, like my wife is?

    Or was she born in an African nation, like my brother's Jewish wife?