Quote Of The Day

“Ironically, the minimum wage creates a reserve army of the unemployed. That in turn allows employers to be less thoughtful, helpful, and kind. It destroys the civilizing effect of competition by muting it. That encourages exploitation. It reduces the cost to employers of racism or cruelty. Before the increase, being obnoxious or racist made it much harder to find employees. A minimum wage makes it easier to indulge in bad behavior. The costs are lower. Before the minimum wage, a cruel, selfish employer might have had to mentor his employees or train them or be nice to them despite his nature. Now he won’t have to. He can still get workers to work for him. Even more cruelly, the minimum wage encourages workers to exploit themselves. They work harder and put up with more abuse from the boss because the minimum wage reduces the alternatives that are available.” — Economist Russ Roberts

2 Responses to “Quote Of The Day”

  1. Jon says:

    I like the title of the Roberts article. You have to use your imagination. That’s the problem with liberals. Sure, they have the evidence but let’s instead focus on thought experiments. Roberts mentions the evidence and how it contradicts his fantasies but dismisses it as kind of a sideshow. Let’s instead use our imaginations and pay less attention to evidence. Now conservative economic ideas finally make sense. Yeah that’s about right.

  2. Ian Random says:

    That actually happened to my wife in a hick college town in the northeast. Want to work, you have to clean-up the restaurant off the clock.

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