Wednesday, July 26, 2006

Don Boudreaux is a genius of the highest order

I am extraordinarily grateful that I currently earn more than the minimum wage. I hope misfortune, ill-health or other calamities never conspire to lower my earnings potential but I'm ever-wary that they might.

However, if my earning power was to reduce to the extent that discussions of the minimum wage became directly relevant, I fervently hope that the minimum wage had been aboloshed by then.

Don Boudreaux explains why.

I was reminded of this post as a result of his recent discussion about the Doha Trade Round: Required Reading.

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