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Bonus Quotation of the Day…

… is from page 58 of my late, great colleague Walter Williams’s 2011 book, Race & Economics (original emphasis):

The real problem is that workers are not so much underpaid as they are under-skilled. And the real task is to help those people become skilled. Congress cannot do this simply by declaring that as of such-and-such a date, everybody’s productive output is now worth $7.25 per hour. This makes about as much sense, and does just about as much harm, as doctors “curing” patients simply by declaring that they are cured.


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