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