Bonus Quotation of the Day…
by Don Boudreaux
on February 26, 2021
… 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.
Comments
