POLITICAL: The minimum wage restricts progress up the economic adder

http://cafehayek.com/2013/10/bonus-quotation-of-the-day-18.html

Bonus Quotation of the Day…
by DON BOUDREAUX on OCTOBER 6, 2013
in SEEN AND UNSEEN, WORK
… is from page 26 of the 2009 Revised Edition of Thomas Sowell’s Applied Economics: Thinking Beyond Stage One:

*** begin quote ***

Young people who begin by working at McDonald’s seldom spend their careers at McDonald’s. Just in the course of one year, McDonald’s has more than a 100 percent turnover rate. What those who leave take with them is not only such basic experience as showing up for work regularly and on time, cooperating with others, and knowing how to conduct themselves in a business environment, but also a track record that enables them to move on to other and very different occupations at progressively higher levels in the years ahead. The experience and the track record from McDonald’s are likely to be more valuable in the long run than the modest paychecks they earned serving hamburgers.

*** end quote ***

Sorry, but this is an absolute hot button with me.

50% black teen unemployment is a national disgrace!

The correct minimum wage is ZERO!

And aren’t unpaid interns a violation of the minimum wage laws?

Oh yeah, that’s for smart white kids with connections.

Politicians and bureaucrats are either as dumb as a bag of rocks or the cruelest idiots ever known!

# – # – # – # – #   

Please leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: