Professor Walter Williams comments on new research showing how the minimum wage is hurting African-American employment. Last week, two labor economists, Professors William Even (Miami University of Ohio) and David Macpherson (Trinity University), released a study for…
Daily Analysis
Free Labor For Me, But Not For Thee
Government bureaucrats think it is their business to prevent individuals from entering voluntary contracts with companies or organizations if the level of compensation does not meet some arbitrary threshold. Congress has used minimum wage laws to prevent certain…
Bush, Pelosi, and Reid Deserve Scorn for Destroying Jobs for Teenagers
Anybody with an IQ above room temperature understands that companies only hire workers when they expect to generate net revenue (i.e., the total receipts associated with a new worker are expected to be higher than the total costs). That’s why it was so reprehensible…
Latest Economics 101 Video Tackles Minimum Wage
Our latest Econ 101 video is a must watch. If you haven’t seen it yet, Orphe Divounguy succinctly explains the role of minimum wage laws in creating unemployment in this video titled, “The Job-Killing Impact of Minimum Wage Laws:” Minimum wage laws…
How Unions Screw Poor People Out of Jobs
Ever wonder why unions care so much about the minimum wage when almost all union members get paid above that level? The answer is simply, but sleazy. As Walter Williams explains, they want to protect their high-pay status by increasing the cost of lower-skilled…