Today in Backwardsville

Don Boudreaux once again displays his weirdly rare ability to describe things correctly:

The national minimum-wage rises today from $5.85 per hour to $6.55 per hour.  In other words, Uncle Sam today arbitrarily increases the cost of employing low-skilled workers by 12 percent.

If your labor is worth less the $6.55 per hour, life is probably not easy for you. It’s a travesty that politicians can posture like they’re helping that guy by making it illegal for anyone to profit from hiring him. Thankfully, $6.55 still isn’t very much.

Author: Will Wilkinson

Vice President for Research at the Niskanen Center