Saturday, May 30, 2015

When Walter Williams Smashed Charlie Rangel on Minimum Wage and Unemployment


  1. Minimum wage laws have no effect on employment = the price of a good has no effect on the amount of the good demanded.

    I guess I can now say that NOTHING I learned in mainstream economics was true!

    (He writes, with a chuckle.)

  2. Wow, I actually agree with Charlie Rangel - a big part of the problem is the fact that students graduate from government 'schools' with no employable skills or thinking ability. Of course, our solutions to that problem would vastly differ...