Anytime I get a good chuckle out of reading economic news and political soap-operas, I have to post. Today I have two, both from Mark Perry over at Carpe Diem:
It’s hard to believe that this is the same paper that hosts former economist Paul Krugman, but check out this shocking New York Times staff editorial arguing against raising the minimum wage because it’s a fundamentally flawed solution to overcoming poverty.
I love the idea of referring to Krugman as a former economist.
I’ve found that somebody’s position on the minimum wage is a pretty good “litmus test” of a person’s ability to understand basic economic principles and think logically. Those who support increases in the minimum wage demonstrate their inability to think clearly, logically and rationally, and their inability to understand basic economic theory. Supporters of the minimum wage embrace emotional “thinking” over truly rational thinking, and generally therefore really can’t be taken seriously. Just my opinion.