Hey, It Feels Good
Jun 22, 2005
The enactment of the first federal minimum wage law in 1933 raised the average wage rate in the Southern textile industry by 70 percent — and half a million nationwide blacks lost their jobs. But the welfare state has always been judged by its good intentions, rather than its bad results.
Milton Friedman rightly called the minimum wage the most anti-black law in the US.
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