Tuesday, September 22, 2015

Ben Carson's Half Of A Good Idea On The Minimum Wage

By Tim Worstall , Sep 21, 2015 Forbes

Finding politicians in election season who say sensible things about the economy is not an easy way to make a living. So,we should praise those who say even halfway, even half, sensible things during such a season. And so it is with Ben Carson on the minimum wage. In fact, there’s a half sensible and a quarter sensible thing being said here. The first is that there should be a youth minimum wage, the second is that the main minimum wage should be indexed to inflation. That first is economically sensible, that second is politically so.

Here’s what the actual suggestion is:

That changed in the GOP debate last week when he embraced the idea of two minimum wages: a “starting” minimum wage for young people and a ‘sustaining’ one for other workers.

This lower rate for the young is a nod to reality. Higher minimum wages hurt the young most because they generally have fewer skills. ‘How are young people ever going to get a job if you have such a high minimum wage that it makes it impractical to hire them?’ asks Mr. Carson.

Read More: http://www.forbes.com

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1 comment:

  1. In a perfect world, I don't support ANY minimum wage. However, I understand the reality of politics very well. The fact that Dr. Carson at least proposes a "starting minimum wage" is a step in the right direction. I'd still like to hear how the "sustaining minimum" would be calculated, but at this point Dr. Carson still has my vote. :)


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