For example, he writes: “Like many economists, I oppose minimum-wage legislation. But this opposition has nothing to do with concern for businesses’ welfare. Instead, I worry exclusively about the low-skilled workers who are unable to find jobs because minimum-wage legislation prices them out of the labor market. I’ve spoken and written on this issue probably 2,000 times in my career without once having uttered any concern that legislated minimum wages reduce firms’ profits.”
Read all of Boudreaux’s column in today’s Pittsburgh Tribune-Review.