\Minimum Wage, Maximum Ignorance
29th July 2016
William F. Buckley Jr. used to speak of the “invincible ignorance” of liberalism, and there’s hardly a better example than the minimum wage. Generally the first thing you learn on the first day of Econ 101 is that if you raise the price of something, you’ll reduce the demand for that something. Including labor.
So it’s fun to notice this morning that the city of Seattle, which threw out both shoulders patting itself on the back for raising its minimum age to $11 an hour last year, is finding the results are . . . not so good.