Showing posts with label price controls. Show all posts
Showing posts with label price controls. Show all posts

Thursday, January 22, 2015

Why the minimum wage promotes discrimination

Despite lofty rhetoric to the contrary, minimum wage laws increase the likelihood of racial discrimination.

According to black economist Walter Williams, it is “for a number of socioeconomic reasons that white youths, more often than their black counterparts, have higher levels of educational attainment and training,” and thus tend to be higher-skilled. While reasons for this are beyond the purview of this article, interested observers can read Williams’ Race and Economics.