Wrong Answer to the Right Question (guests: Russell Clark, Cem Karsan)
The Market Huddle
00:00
The Rise of the Federal Minimum Wage
The minimum wage rose 10 times from 1940 to 1980. In real terms, I think it's fallen. Puget. It's doubled in nominal terms, right? Over the same period. The FDR model was minimum wage was raised massively. And the sort of post Reagan or the Reagan model has been to raise a minimum wage very, very slowly, if at all. You can't love the free markets and then complain when the free markets are working against you. China is doing a lot of policies that didn't make a lot of sense to me. They should be for free, but they're not.
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