We’ve written often about the unintended consequences of the minimum wage (and all price controls). But it’s a sea change when a New York Times editorial agrees: “Anyone working in America surely deserves a better living standard than can be managed on $3.35 an hour. But there’s a virtual consensus among economists that the minimum wage is an idea whose time has passed. Raising the minimum wage by a substantial amount would price working poor people out of the job market. A far better way to help them would be to subsidize their wages or – better yet – help them acquire the skills needed to earn more on their own.”
Here’s a link to a video of Milton Friedman on the minimum wage: http://www.powerlineblog.com/archives/2014/01/minimum-wage-might-as-well-check-in-with-milton.php
The Georgia Public Policy Foundation has hit another homerun with its Guide to the Issues. This is must reading for anyone interested in public policy in Georgia, and it is an outstanding road map for conservative, common sense solutions to our challengers of today and tomorrow.