Thursday, November 12, 2015

Is This Why Ben Carson Changed His Position on the Minimum Wage?

In past public comments, Ben Carson was in favor of minimum wages, but during Wednesday night's debate, he came out against raising the minimum  wage.

Don Boudreaux comments:
[O]ne of Dr. Carson’s economic advisors is my colleague Tom Rustici.  Tom, in addition to being a man of principle, is also one of the finest economics educators working today.
 It is quite understandable and forgivable that Dr. Carson – who had no reason as a physician to ponder carefully the economics of the minimum wage – once shared the man-in-the-street’s ignorance of the minimum-wage’s ill-effects on low-skilled workers.  And it is applause-worthy and encouraging that Dr. Carson, no doubt having learned some economics from Tom Rustici, now sees the ravages that minimum-wage legislation inflicts on the poorest of poor workers.  Good for him!
(Tom’s 1985 paper on the minimum wage is a gem.)

1 comment:

  1. I note that economic ignorance never seems to deter these people from seeking public office.