from The Daily Bell:
Minimum human wages … The empirics of the minimum wage debate are complex, but it isn’t impossible to draw some conclusions. A recent Free exchange column attempted to do just that: America’s academics still do not agree on the employment effects. But both sides have honed their methods and, in some ways, the gap between them has shrunk. – Economist
Dominant Social Theme: There is a case to be made for a minimum “human” wage.
Free-Market Analysis: Price fixing is back with a new title, “human” – as in “minimum human wage.” We are indebted to the The Economist magazine for bringing us this latest jargon.
We disagree with the concept, of course … profoundly. As we pointed out just yesterday, The Economist‘s editors and writers are expert at creating government-oriented arguments where none existed before.