- Cafe Hayek - https://cafehayek.com -

Quotation of the Day…

Tweet [1]

… is from page 120 of my late, great colleague Walter Williams [2]’s 2015 book, American Contempt for Liberty [3], which is a collection of many of Walter’s columns and essays; this quotation specifically is from Walter’s January 8th, 2014, syndicated column, “Politics and Minimum Wage [4]“:

Minimum wages have their greatest unemployment impact on the least skilled worker. After all, who’s going to pay a worker an hourly wage of $10 if that worker is so unfortunate as to have skills that enable him to produce only $5 worth of value per hour? Who are these workers? For the most part, they are low-skilled teens or young adults, most of whom are poorly educated blacks and Latinos.