Sent: Sun 5/22/2016 8:10 AM
Subject: Minimum Wage
Hello Dr. Block.
It was a pleasure to meet you in person and to shake the hand of the hand that shook hands with Murray.
There is also a video of your leap over the minimum wage barrier from your presentation on my Read Rothbard YouTube channel: https://youtu.be/XekCVIUmBiM
Q. – Supporters of the minimum wage argue that it will put more money into the hands of more people, thus giving a boost to the local economy that more than offsets the “modest” price increases that would result. What is your favorite way to take this argument apart? Cordially, D
Dear D: Your argument assumes the minimum wage “will put more money into the hands of more people.” Not so, not so. Suppose we raise the minimum wage to $100 per hour. You think that the people now making, oh, $10 per hour will be paid $100? No. They will all be fired. Such a minimum wage “will put LESS money into the hands of more people.” Well, very temporarily, a very, very few people might actually get that $100. But it will only be for a short time, if at all.
Here is a bibliography of the minimum wage:
Akihari, 2016; Batemarco, et.al. 2014; Baum, 2015; Becker, 1995; Block, 1987, 2000, 2001, 2002, 2014, 2015; Block and Barnett, 2002; Boudreaux, 2015A, 2015B, 2016A, 2016B, 2016C, 2016D, 2017; Burkhauser, Couch, Wittenburg, 1996; Caplan, 2013A, 2013B, 2015; Cappelli and Block, 2012; Deere, Murphy and Welch, 1995; Ebeling, 2018; European, undated; Friedman, undated; Gallaway and Adie, 1995; Galles, 2014; Gitis, 2014; Hanke, 2014A, 2014B; Hazlitt, 1946; Hovenga, 2013; Howland, 2013; Klein and Dompe, 2007; Landsburg, 2004; Leonard, 2016; Lingenfelter, et. Al., 2017; McCaffrey, 2014; McCormick and Block, 2000; Mercer, 2015; Morse, 2018; Murphy, 2014, 2015A, 2015B; Neumark, 2015; Neumark and Wascher, 1992, 1995; North, 2014; Parker, 2018; Powell, 2013; Reisman, 2014; Riley, 2018; Rothbard, 1988, 2015A, 2015B; Rustici, 1985; Salihu, 2013; Saltsman, 2015; Schiff, undated; Shaw, 2016; Sohr and Block, 1997; Sowell, 1995; Tucker, 2915; Vedder and Gallaway. 2001; Vuk, 2006; Ward, 2016; Wenzel, 2013, 2015, 2017; Wiegold, 2014; Williams, 1982, 2013, 2014A, 2014B, 2014C, 2015A, 2015B, 2016A, 2016B, undated.
Akihari, Ferghane. 2016. “In Europe, Workers Use Minimum Wage Laws to Exclude their Competition.” July 13; https://mises.org/blog/europe-workers-use-minimum-wage-laws-exclude-their-competition
Batemarco, Robert, Charles Seltzer and Walter E. Block. 2014. “The irony of the minimum wage law: limiting choices versus expanding choices.” Journal of Peace, Prosperity & Freedom, Vol. 3, pp. 69-83;
Baum, Caroline. 2015. “Caroline Baum Slams Paul Krugman (on minimum wage)” July 28;
Becker, Gary. 1995. “It’s simple: Hike the minimum wage, and you put people out of work.”
Business Week. March 6. p. 22; http://www.bloomberg.com/bw/stories/1995-03-05/its-simple-hike-the-minimum-wage-and-you-put-people-out-of-work
Block, Walter E. 1987. “Minimum Wage Law No Help to Unskilled,” Dateline Canada: Understanding Economics Through Press Reports, p. 37.
Block, Walter E. 2000. “Heritage Stumbles on Minimum Wage,” The Free Market, October, Volume 18, Number 10; http://www.mises.org/freemarket_detail.asp?control=324
Block, Walter E. 2001. “The Minimum Wage: A Reply to Card and Krueger,” Journal of The Tennessee Economics Association, Spring; http://www.mtsu.edu/~ceconed/100minwg.pdf
Block, Walter E. 2002. “Delusions of rising wages,” New Orleans City Business, January, 28, p. 28.
Block, Walter E. 2015. “Abolish the minimum wage law.” September 6;
Block, Walter E. 2014. “The Minimum Wage Law.” January 17;
https://www.lewrockwell.com/2014/01/walter-e-block/want-to-stab-the-poor-and-help-labor-unions/; http://www.economicpolicyjournal.com/2014/01/the-hardcore-austrian-school-and.html; http://lockerroom.johnlocke.org/2014/01/17/walter-block-versus-economists-who-want-to-raise-the-minimum-wage/; http://libertycrier.com/want-to-stab-the-poor-and-help-labor-unions/?utm_source=The+Liberty+Crier&utm_campaign=2b836d4a7b-The_Liberty_Crier_Daily_News_1_17_2014&utm_medium=email&utm_term=0_600843dec4-2b836d4a7b-284768769
Block, Walter and William Barnett II. 2002. “The Living Wage: What’s Wrong,” The Freeman Ideas on Liberty,December, Vol. 52, No. 12, pp. 23-24
Boudreaux, Don. 2015A. “Dartmouth Remarks On the Minimum Wage.” November 17;
Boudreaux, Don. 2015B. “Noah Smith is no Adam Smith.” November 24;
Boudreaux, Don. 2016A. “The Cruelty of the Minimum Wage.” (Cartoon) January, 15; http://www.economicpolicyjournal.com/2016/01/the-cruelty-of-minimum-wage.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%29
Boudreaux, Don. 2016B. “A UMass Professor is Challenged: Should Economists Use Low-Skilled Workers as Guinea Pigs?” March 31; http://www.economicpolicyjournal.com/2016/03/a-umass-professor-is-challenged-should.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%29
Boudreaux, Don. 2016C. “Blazing Blindness in France.” May 26;
Boudreaux, Don. 2016D. “Considering the Government Policy of Mandated Theft by Workers.” September 12; http://www.economicpolicyjournal.com/2016/09/considering-government-policy-of.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%29
Boudreaux, Don. 2017. “Yes, Students Still Need Econ 101.” February 22;
Burkhauser, Richard V., Couch, Kenneth A., Wittenburg, David. 1996. “Who Gets What From Minimum Wage Hikes: A Replication and Re-estimation of Card and Krueger.” Industrial and Labor Relations Review, 49, no. 3, April, pp. 547-552.
Caplan, Bryan. 2013A. “Phase-In: A Demagogic Theory of the Minimum Wage.” December 5;
Caplan, Bryan. 2013B. “The Myopic Empiricism of the Minimum Wage.” March 12;
Caplan, Bryan. 2015. “Identificationists Beware.” June 10; http://econlog.econlib.org/archives/2015/06/identificationi.html
Cappelli, Peter and Walter E. Block. 2012. “Debate over the minimum wage law.” Economics, Management, and Financial Markets, 7(4), December, pp. 11-33; http://addletonacademicpublishers.com/abstracts/economics-management-and-financial-markets/volume-7-4-2012/debate-over-the-minimum-wage-law.html
Deere, Donald, Murphy, Kevin M., Welch, Finis. 1995. “Employment and the 1990-91 Minimum-Wage Hike.” American Economic Review. 85, no. 2, May, pp. 232-237.
Ebeling, Richard. 2018. “Freedom and the Minimum Wage.” February 13;
Friedman, Milton. Undated. “A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.” http://izquotes.com/quote/306121; http://books.google.com/books?id=ck6bXqt5shkC&pg=PA292&lpg=PA292&dq=Playboy+Milton+Friedman:+%E2%80%9CA+minimum-wage+law+is,+in+reality,+a+law+that+makes+it+illegal+for+an+employer+to+hire+a+person+with+limited+skills.%E2%80%9D&source=bl&ots=oBhaVzo4_o&sig=tPYbXajMPWQADdFdRvvbUvPXsbs&hl=en&sa=X&ei=QoU4U-fSIKeisQTIyoGQBQ&ved=0CDwQ6AEwAw#v=onepage&q=Playboy%20Milton%20Friedman%3A%20%E2%80%9CA%20minimum-wage%20law%20is%2C%20in%20reality%2C%20a%20law%20that%20makes%20it%20illegal%20for%20an%20employer%20to%20hire%20a%20person%20with%20limited%20skills.%E2%80%9D&f=false
Gallaway, Lowell and Douglas Adie. 1995. Review of Card and Krueger’s Myth and
Measurement: The New Economics of the Minimum Wage, Cato Journal, Volume 15, no.1
Galles, Gary. 2014. “Cognitive Dissonance on Minimum Wages and Maximum Rents.” April 15; https://mises.org/library/cognitive-dissonance-minimum-wages-and-maximum-rents
Gitis, Ben. 2014. “How Minimum Wage Increased Unemployment and Reduced Job Creation in 2013” March 30; http://americanactionforum.org/research/how-minimum-wage-increased-unemployment-and-reduced-job-creation-in-2013
Hanke, Steve H. 2014A. “Minimum Wage Laws Kill Jobs.” January 29;
Hanke, Steve H. 2014B. “Let the Data Speak: The Truth Behind Minimum Wage Laws.” Globe Asia, April; http://www.cato.org/publications/commentary/let-data-speak-truth-behind-minimum-wage-laws
Hazlitt, Henry. 2008 . Economics in One Lesson. Auburn, AL: Mises Institute;
Hovenga, Claire, Devaja Naik and Walter E. Block. 2013. “The Detrimental Side Effects of Minimum Wage Laws.” Business and Society Review; Winter, Volume 118, Issue 4, pp. 463-487;http://onlinelibrary.wiley.com/doi/10.1111/basr.2013.118.issue-2/issuetoc;
http://bestsetonlineproofing.toppanbestset.com/php/welcome.php?PDF=NDE3Mg==&Proof=QXV0aG9yUmV2aWV3firstname.lastname@example.org,email@example.com,firstname.lastname@example.org; http://www.adobe.com/products/acrobat/readstep2.html; http://onlinelibrary.wiley.com/doi/10.1111/basr.2013.118.issue-4/issuetoc; http://onlinelibrary.wiley.com/doi/10.1111/basr.12018/abstract; http://onlinelibrary.wiley.com/doi/10.1111/basr.12018/full.
Howland, David. 2013. “Increased Minimum Wage, Decreased Economic Prosperity.” November 16; http://mises.ca/posts/blog/increased-minimum-wage-decreased-economic-prosperity/
Klein, Daniel B. and Stewart Dompe. 2007. “Reasons for Supporting the Minimum Wage: Asking Signatories of the ‘Raise the Minimum Wage’ Statement,” Econ Journal Watch. Vol. 4, No. 1, January, pp. 125-167
Landsburg, Steven E. 2004. “The sin of wages; the real reason to oppose the minimum wage. Slate.July 9. http://slate.msn.com/id/2103486
Leonard, Thomas C. 2016. “Minimum wages were first designed to keep women and minorities out of jobs.” April 5; http://www.latimes.com/opinion/op-ed/la-oe-0405-leonard-minimum-wage-20160405-story.html
Lingenfelter, Jonathan, Jose Dominguez, Leandra Garcia, Bryce Mayon and Walter E. Block. 2017. “Closing the Gap: Why Minimum Wage Laws Disproportionately Harm African-Americans.” Economics, Management, and Financial Markets; 12(1): 11–24; http://220.127.116.11/exchange/walterblock/Inbox/RE:%20Closing%20the%20Gap:%20Why%20Minimum%20Wage%20Laws%20Disproportionately%20Harm%20African-Americans.EML/1_multipart_xF8FF_2_1-Lingenfelter%20et%20al..pdf/C58EA28C-18C0-4a97-9AF2-036E93DDAFB3/1-Lingenfelter%20et%20al..pdf?attach=1; pw: AddletonAP2009
McCaffrey, Matt. 2014. “IKEA’s ‘Minimum Wage.’” July 4;
McCormick, Paul and Walter E. Block. 2000. “The Minimum Wage: Does it Really Help Workers,” Southern Connecticut State University Business Journal, Vol. 15, No. 2, Fall-Spring, pp. 77-80
Mercer, Ilana. 2015. “Minimum Wage, Maximum Folly’ In The Ivy League.” May 10;
Morse, Brandon. 2018. “The ‘Fight For 15’ Crowd Is Now Protesting The Self-Checkout Machines Replacing Them.” April 10; https://www.redstate.com/brandon_morse/2018/04/10/fight-15-crowd-now-protesting-self-checkout-machines-replacing/
Murphy, Robert P. 2014. “Economists debate the minimum wage.” February 3;
Murphy, Robert P. 2015A. “The Minimum Wage ‘Experiments.’” June 16; https://mises.ca/posts/blog/the-minimum-wage-experiments/
Murphy, Robert P. 2015B. “Robert Reich Shills for $15 Minimum Wage.” June 22;
Neumark, David. 2015. “The Effects of Minimum Wages on Employment.” December 21;
Neumark, David and Wascher, William. 1992. “Employment Effects of Minimum and Subminimum Wages: Panel Data on State Minimum Wage Laws.” Industrial and Labor Relations Review 46 (October), pp. 55-81.
Neumark, David and William Wascher. 1995. “Minimum wage effects on employment and school enrollment.” Journal of Business Economics and Statistics. Vol. 13, No. 2, pp. 199-207.
Powell, Benjamin. 2013. “Krugman Contra Krugman on the Minimum Wage?” December 12;
Parker, James. 2018. “News With a Twist: Should Louisiana Raise the Minimum Wage?” May 5; https://www.youtube.com/watch?v=Dlb7AQC_AlU&feature=youtu.be
Reisman, George. 2014. “How Minimum Wage Laws Increase Poverty.” April 4; https://mises.org/library/how-minimum-wage-laws-increase-poverty
Riley, Jason L. 2008. “Does the Constitution Mandate Minimum Wage Hikes? A misguided court ruling ignores the history of labor laws intended to keep blacks from working.” July 31; https://www.wsj.com/articles/does-the-constitution-mandate-minimum-wage-hikes-1533078622
Rothbard, Murray N. 1988. “Outlawing Jobs: The Minimum Wage, Once More.” The Free Market. Auburn, AL: The Ludwig von Mises Institute, December, 1, 7-8; https://archive.lewrockwell.com/rothbard/rothbard315.html; https://www.lewrockwell.com/rothbard/rothbard124.html
Rothbard, Murray N. 2015A. “On the minimum wage.”July 29;
Rothbard, Murray N. 2015B. “The Crippling Nature of Minimum-Wage Laws.” November 6;
Rustici, Thomas. 1985. “A public choice view of the minimum wage.” Cato Journal. Vol. 5, No. 1, pp. 103-131; http://object.cato.org/sites/cato.org/files/serials/files/cato-journal/1985/5/cj5n1-6.pdf
Salihu, Bardhyl N. 2013. “Bending the Laws of Economics.” February 19;
Saltsman, Michael. 2015. “Minimum Wage Hike Forces a Nonprofit Restaurant to Close.” January 5; http://www.economicpolicyjournal.com/2015/01/minimum-wage-hike-forces-nonprofit.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%29
Schiff, Peter. Undated. https://www.youtube.com/watch?v=LLr5oWfoWRY&list=TLC1qFv76XMgWqS88S248kyGa-_uB-d-to
Shaw, Chris. 2016. “Britain’s Minimum Wage Short-Changes Young Workers.” July 21;
Sohr, Kevin and Walter E. Block. 1997. “The Minimum Wage,” The Freeman Ideas on Liberty, November, pp. 681-682.
Sowell, Thomas. 1995. “Repealing the Law of Gravity,” Forbes, May 22; p. 82.
Vedder, Richard K., and Lowell Gallaway. 2001. “Does the Minimum Wage Reduce Poverty?” Employment Policies Institute, June. http://epionline.org/studies/vedder_06-2001.pdf
Vuk, Vedran. 2006. Professor Stiglitz and the Minimum Wage.” September 4; http://mises.org/daily/2266
Ward, Victor, J. 2016. “The Minimum Wage Destroys More Than Jobs; It Destroys the Opportunity for Inner-City Youth to Learn.” April 6; http://www.economicpolicyjournal.com/2016/04/the-minimum-wage-destroys-more-than.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%29
Wenzel, Robert. 2013. “The Wrong Way to Argue Against Minimum Wage Laws.” February 17; http://www.economicpolicyjournal.com/2013/02/the-wrong-way-to-argue-against-minimum.html
Wenzel, Robert. 2015. “How Minimum Wage Increases Went Bad in San Francisco, Oakland, Seattle and Beyond.” June 10; http://www.economicpolicyjournal.com/2015/06/how-minimum-wage-increases-went-bad-in.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%29
Wenzel, Robert. 2017. “How to Smash Slick Lefties Who Advocate the Minimum Wage,” July 23;http://www.economicpolicyjournal.com/2017/07/how-to-smash-slick-lefties-who-advocate.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%29;
Wiegold, Benjamin M. 2014. “The High Cost of Minimum Wages” May 30;
Williams, Walter, E. 1982. The State Against Blacks, New York, McGraw-Hill.
Williams, Walter, E. 2013. “Higher Minimum Wages.” February 27;
Williams, Walter, E. 2014A. “Politics and Minimum Wage.” January 8;
Williams, Walter, E. 2014B. “The State Against Blacks and the Minimum Wage.” http://www.economicpolicyjournal.com/2014/05/walter-e-williams-state-against-blacks.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%29
Williams, Walter, E. 2014C. “Embarrassing Economists.” October 21;
Williams, Walter, E. 2015A. “Self-Enforcing Discrimination.” March 31;
Williams, Walter, E. 2015B. “Embarrassing Economists.” May 10;
Williams, Walter, E. 2016A. “Elitist Arrogance.” June 1;
Williams, Walter, E. 2016B. “Compensating Differences.” August 2;
Williams, Walter, E. Undated.
http://www.economicpolicyjournal.com/2015/11/powerful-walter-williams-comments-on.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%293:08 am on February 16, 2019 Email Walter E. Block