This post by John Cochrane on minimum-wage legislation  is a must-read. A slice:
The effects fall heaviest on low-skill teenagers, especially minorities. Tom Sowell is eloquent on this point, for example in a recent New York Post OpEd . I was unaware until reading it that minimum wage laws were initially backed in part as conscious efforts to discriminate against minorities and preserve jobs for white people. Sometimes, I guess, policies do have their intended effects.
David Harsanyi isn’t as pessimistic as some that today’s technological advances spell doom for ordinary people . (David interviewed me for this piece of his. I’m likely to blog more on this topic within the next few days. My general take on this matter – which I know Russ shares with me – is that the burden of persuasion is quite heavy on those who insist that today’s technological advances will, unlike all the many advances of the past, finally in fact cause long-lasting economic stagnation for the great bulk of ordinary people. The past doesn’t prove the future, of course. But it is an important source of evidence and insight – and, so far, all that evidence and insight scream pretty loudly that humans in every age are far too prone to over-estimate the likelihood that technology will lead to generalized and lasting job losses.)