Bonus Quotation of the Day…

by Don Boudreaux on December 7, 2016

in Reality Is Not Optional, Work

… is a comment that Steve Landsburg contributed to this post of his on his blog, The Big Questions; the italicized words are from another commenter, one to whom Steve responded; I’ve put Steve’s words in bold:

I posted a study here recently on minimum wage workers in London. The authors found no measurable effect on employment, nor an increase in firm closures nor a rise in prices following an increase in minimum wage. Where did the money come from? SL’s analysis suggests that marginal firms would close, but they apparently did not.

If you read a study saying that the laws of arithmetic are invalid, then no matter how carefully the study seems to have been conducted, you should be asking where the error is, not asking why people continue to believe in arithmetic.


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