Sunday, July 26, 2009

On the minimum wage hike

"Each semester I ask my principles-of-economics students if they think that I would rejoice if Uncle Sam passed a minimum-salary statute for economists, mandating that every economist hired be paid at least $300,000 annually. I then explain that my more talented and accomplished colleagues, such as Tyler Cowen, Gordon Tullock, and Walter Williams, would surely benefit. I, in contrast, would lose my job."

Donald J. Boudreaux
Chairman, Department of Economics
George Mason University

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