Wednesday, June 01, 2016

The great Thomas Sowell explains …

… Socialism for the Uninformed | RealClearPolitics.

Back in 1948, when inflation had rendered meaningless the minimum wage established a decade earlier, the unemployment rate among 16-17-year-old black males was under 10 percent. But after the minimum wage was raised repeatedly to keep up with inflation, the unemployment rate for black males that age was never under 30 percent for more than 20 consecutive years, from 1971 through 1994. In many of those years, the unemployment rate for black youngsters that age exceeded 40 percent and, for a couple of years, it exceeded 50 percent.

1 comment:

  1. Quite simply, socialism cannot exist without massively uninformed people. So massively uninformed, they actually believe those arrogant enough to insist the only reason it inevitably fails is because "the wrong people were in charge."

    You can't get much dumber than that.