Bonus Quotation of the Day…

by Don Boudreaux on October 18, 2013

in Crony Capitalism, Seen and Unseen, Work

… is from comments made after a formal talk in 1962, in Chicago, by the noted labor economist Albert Rees (1921-1992); Rees’s comment quoted below appears on pages 17-18 here):

The minimum wage is really northern legislation by which we in the north have tried to protect ourselves against competition from low-wage industries in the South.  If I were a southerner, this would bother me a great deal; it bothers me a bit even so.

If you look at the roll-call votes in the Congress on increases in the minimum wage under the Fair Labor Standards Act, you will find a solid regional alignment – the northerners are always for increases, whether they are Republicans or Democrats, and the southerners, almost all Democrats, are always against it.

See also pages 111-114 of David Henderson’s splendid 2002 volume, The Joy of Freedom.

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