Boudreaux on high wages; a critique
DOI:
https://doi.org/10.52195/pm.v15i1.65Abstract
Professor Don Boudreaux has made many contributions to pro- moting liberty and good economics including his refutations of common economic fallacies concerning unions, free trade, occupa- tional licensure, and the minimum wage.
Yet, we must take issue with a recent column of his entitled «Do We Need to Bring Back the Reagan Years?» In it he offers what we consider several economic fallacies. We start off by repeating it in its entirety, one, because it is so short, and two, to obviate any pos- sible misinterpretations. Then, we make clear our criticism of it.
Do We Need to Bring Back the Reagan Years? By Don Boudreaux
Heard on the radio this morning while driving in northern Vir- ginia:
We need policies to bring back the high-paying jobs this coun- try lost since the Reagan years.
I missed the name and affiliation of the particular interviewee who issued this proclamation. Of course, this proclamation is, in one form or another, a familiar one. It trips frequently out of the mouths and off of the keyboards of politicians and pundits too numerous to count. Yet it is economic foolishness.
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