Here’s another quiz. This one is microeconomic.
If you’re, say, an established and successful pharmacist and you greedily and without any moral scruples whatsoever want to shield yourself from the competition of newly minted pharmacists, which of the following government policies will you support?
(1) A maximum-wage statute for new pharmacists, under which each person who graduates, from today forward, from pharmacy school cannot lawfully be paid an annual salary (to work as a pharmacist) of more than $500. (“People who need life-saving drugs shouldn’t have to pay high prices to get these drugs!”)
or
(2) A minimum-wage statute for new pharmacists, under which each person who graduates, from today forward, from pharmacy school cannot lawfully be paid an annual salary (to work as a pharmacist) of less than $500,000,000. (“People who work to supply life-saving drugs should be rewarded handsomely for their essential labors!”)
or
(3) A statute for the entire country that prohibits, from here on in, any new pharmacists from legally working as pharmacists. (“Only experienced and proven pharmacists can be trusted to serve the public well!”)
