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Wednesday, October 04, 2006

Minimum Wage and Discrimination

By Steve L. on October 4, 2006 at 02:40 am
2 Comments

Today at Townhall.com, Dr. Walter E. Williams has a wonderful piece on the minimum wage and its effect on discrimination:

What minimum wage laws do is lower the cost of, and hence subsidize, racial preference indulgence. After all, if an employer must pay the same wage no matter whom he hires, the cost of discriminating in favor of the people he prefers is cheaper. This is a general principle. If filet mignon sold for $9 a pound and chuck steak $4, the cost of discriminating in favor of filet mignon is $5 a pound, the price difference. But if a law mandating a minimum price for chuck steak were on the books, say, $7 a pound, it would lower the cost of discrimination against chuck steak.

Read the whole thing.

Comments

The Whistler

Walter Williams is great.  I love it when he fills in for Rush.

The last time I heard him he was talking about how to shop for your wife. 

He recommended walking around the house and finding 8-10 items that needed to be replaced soon anyway.  Like a dish rag.

By the way undoubtedly the minimum wage was brought in just for the reasons Williams stated.  The Unions and Roosevelt didn’t like it that businesses had choices.

The Debate is over!  Global Whining has been confirmed.

The Whistler's signature
The Whistler on October 4, 2006 at 04:55 am
Ken McCracken

Heheh I loved it when Williams warns Mrs. Williams at the end of the show.

He once said he was going to come home and put on a white glove, and go over the mantelpiece and so on, and make sure everything was dusted properly.

It was the most refreshingly un-PC thing I had heard in a long time.

Ken McCracken on October 4, 2006 at 05:02 am
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