The government is now in a position to do what Franklin D. Roosevelt did during the Great Depression of the 1930s - use a crisis of the times to create new institutions that will last for generations. To this day, we are still subsidizing millionaires in agriculture because farmers were having a tough time in the 1930s.
Thomas SowellUnfortunately, the real minimum wage is always zero, regardless of the laws, and that is the wage that many workers receive in the wake of the creation or escalation of a government-mandated minimum wage, because they lose their jobs or fail to find jobs when they enter the labor force. Making it illegal to pay less than a given amount does not make a workerโs productivity worth that amountโand, if it is not, that worker is unlikely to be employed.
Thomas SowellIt is amazing how many of the horrors of the 20th century were a result of charismatic quacks misleading millions of people to their own doom. What is even more amazing is that, after a century that saw the likes of Hitler, Lenin and Mao, we still see no need to distrust charisma as a basis for choosing leaders, either in politics or in numerous organizations and movements.
Thomas Sowell