Walter Block Shows His Sarcastic Side...

...At least I think, I hope.

The following exchange took place between Dr. Michael Edelstein and Dr. Walter Block:

From: Michael R. Edelstein [mailto:DrEdelstein@ThreeMinuteTherapy.com]
Sent: Tue 8/18/2015 12:58 PM
To: Walter Block; Marty Nemko
Subject: New Minimum Wage Data


Seattle Has Lost 1300 Restaurant Jobs Since Minimum Wage Hike <http://feedproxy.google.com/~r/economicpolicyjournal/KpwH/~3/KZIeI3OEfuw/seattle-has-lost-1300-restaurant-jobs.html?utm_source=feedburner&utm_medium=email>
Posted: 17 Aug 2015 01:34 PM PDT
Mark Perry writes: In June of last year, the Seattle city council passed a $15 minimum wage law to be phased in over time, with the first increase to $11 an hour taking effect on April 1, 2015. What effect will the eventual 58% increase in labor costs have on small businesses, including area restaurants?

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From: Walter Block wblock@loyno.edu
Sent: Tue 8/18/2015 4:49 PM
To: Michael R. Edelstein; Marty Nemko
Subject: RE: New Minimum Wage Data


in my view, these jobs were lost due to capitalist greed, not the minimum wage law, which only boosts niggardly wage rates and has never been responsible for the loss of even one job of an unskilled person.

Walter E. Block, Ph.D.
Harold E. Wirth Eminent Scholar Endowed Chair and Professor of Economics
Joseph A. Butt, S.J. College of Business
Loyola University New Orleans