Quotation of the Day…

by Don Boudreaux on October 4, 2015

in Crony Capitalism, Seen and Unseen, Work

… is from page 153 of my colleague Dick Wagner’s excellent 1989 volume, To Promote the General Welfare (footnote excluded; link added):

[M]inimum wages have significant differential effects among adults, as Peter Linneman’s work on this topic demonstrates.  Linneman found significant differences in the impact of minimum wage legislation among different categories of adults.  Men gained and women lost: 76 percent of white men gained and 62 percent of black men gained; 72 percent of black women lost and 73 percent of white women lost.  Union membership made a difference: 85 percent of union members gained while 56 percent of nonmembers lost.


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