3 ms·
A few years ago I would have wondered the same thing. After reading Basic Economic by Thomas Sowell I searched for more information to counter the book's claim
by tastyfreeze 5y ago
A few years ago I would have wondered the same thing. After reading Basic Economic by Thomas Sowell I searched for more information to counter the book's claims on minimum wage. In the end I came to the conclusion that Sowell is right. Minimum wage is a net negative in society. Minimum wage is harmful to the low income groups the policy is supposed to help.
Example of job protection origins:
https://www.forbes.com/sites/carriesheffield/2014/04/29/on-the-historically-racist-motivations-behind-minimum-wage/ https://www.forbes.com/sites/carriesheffield/2014/04/29/on-t...
https://en.wikipedia.org/wiki/Davis%E2%80%93Bacon_Act_of_1931?wprov=sfla1 https://en.wikipedia.org/wiki/Davis%E2%80%93Bacon_Act_of_193...
https://fraser.stlouisfed.org/files/docs/publications/bls/bls_0467_1928.pdf https://fraser.stlouisfed.org/files/docs/publications/bls/bl...
Australia protecting jobs from Chinese workers pg 17
British Columbia protecting jobs from "Asiatics" pg 68
South Africa protecting jobs from "colored" workers pg 74