Mark Perry very clearly explains the cruel and pernicious consequences of minimum-wage legislation – cruel consequences that are forced upon the least-skilled workers. (See also morganvich’s important comment on Mark’s post.)
Writing in yesterday’s Washington Post, the great law and econ scholar Fred McChesney – who is also an historian of firefighting – asks why is the number of firefighters growing while the number of fires is shrinking. (Hint: public-sector labor unions here, as elsewhere, successfully seek rents.) A slice:
But oddly, as the number of fires has dropped, the ranks of firefighters have continued to grow — significantly. There are half as many fires as there were 30 years ago, but about 50 percent more people are paid to fight them.
Puritanical busybodies think that you should not be allowed to consume certain drugs because doing so will ruin your life. And they support arresting, prosecuting, and throwing drug users into prison, whether they have ruined their lives or not, thereby ensuring that their lives will be ruined for certain.