≡ Menu

Bonus Quotation of the Day…

… is this comment that my emeritus colleague and Nobel laureate Vernon Smith left earlier this week on a Facebook posting of this superb recent Medium essay by Russ Roberts; I cannot now find Vernon’s comment on-line, but I do have a screen-shot of it:

The minimum wage is the great destroyer of entry level work opportunities so important for on-the-job training. Ultimately even its cruel supporters realized this, but instead of repeal created the trainee category exception and special program to run what did not need running!

DBx: Vernon accurately describes minimum-wage supporters as “cruel.” They are indeed.