When President Obama first talked about raising the minimum wage, Paul Krugman, a Nobel Laureate in economics, quickly published an article supporting such an increase. Yet, even a first-year student in economics knows price controls distort the resource allocation function of prices, thus benefiting one group or special interests at the expense of the rest of society. mises.org/daily/6726/The-Sad-State-of-the-Economics-Profession
Posted on: Thu, 17 Apr 2014 13:27:51 +0000
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