Rhode Island Gov. Gina Raimondo says the recent increase in the minimum wage will help thousands of Rhode Island residents, but the state can do more to help lift people out of poverty.
The state’s minimum wage increased by 60 cents per hour on Januar 1, to $9.60.
But, she says, raising the minimum wage alone is not enough.
She says in 2016, the state must train people with skills for high-wage jobs and create more jobs to boost incomes.
This lady obviously has no clue how markets work and the damage that the minimum wage does for the employment prospects of the least productive.
Should we blame Harvard Professor Greg Mankiw for her interventionist, economically illiterate views? He has been a professor of economics at Harvard since 1987 to the present.
Raimondo graduated with a B.A. magna cum laude in, get this, Economics from Harvard in 1993.
Mankiw was chairman of the economics department and teaches the introductory economic course, EC10 (It is not clear if he taught the course in the early 1990s).
Regardless, whether blame should be put directly on Mankiw, the Harvard econ department has surely failed here.
I consider the grades and understanding that a student gets out of a course a reflection of the quality of teaching. Understanding how free markets work and why the minimum wage is evil is not a difficult concept to get across.
Harvard has failed here.