Tag archive

Milton Friedman

Economics

The Racist History Of Minimum Wage Laws

In 1966, Milton Friedman wrote an op-ed for Newsweek entitled “Minimum Wage Rates.” In it, he argued “that the minimum-wage law is the most anti-Negro law on our statute books.” He was, of course, referring to the then-present era, after the far more explicitly racist laws from the eras of slavery and segregation had already been removed. Friedman’s observation about the racist effects of minimum wage laws can be traced back to the nineteenth century, and they continue to have a disproportionately deleterious effect on African-Americans into the present day. The earliest of such laws were regulations passed in regards… Keep Reading

Economics/Philosophy/Politics

Economics & History: Why This Connection Matters

In a recent article of mine, I debunked the red herring of  the “roads” argument that many modern socialists throw around. It turns out that lately this article has gotten some pretty lively responses from its critical readers. One such commenter was someone I might have expected to be on my side (politically speaking) as he was presumably a libertarian himself, but the road forked for us at economics. It seemed as if this gentleman was an adherent of the Austrian school (a.k.a. the fantasy football of economics), and he had a thing or two to say about my reasoning behind my aforementioned debunking.… Keep Reading

Economics/Politics

The Problem With Amnesty, Isn’t Amnesty

A couple weeks ago, President Obama announced that he would disregard the Constitutional process and grant executive amnesty to over five million illegal immigrants living in the states, surprising exactly no one. Equally predictable was the conservative uproar, and the ensuing accusations of racism from the Left. Much of the conservative reaction rightly centered on President Obama’s executive end-around on Congress, but the back and forth of “you’re buying votes with American jobs!” and “you’re a racist!” are again saturating politics the way Kirk Cameron saturates Christian filmmaking. Unfortunately, the bottom line of the immigration problem is often lost behind… Keep Reading

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