Raise that unemployment now

19 Feb

Sipping my morning cup of tea, I came across a horrifying article by Paul Krugman titled “Raise that wage now.” In the article, Krugman seconds Obama’s proposal in his State of the Union address to raise the minimum wage by 24% in the US. I knew immediately that this would have opened a can of worms with the blogosphere debating this in full swing. Here’s a short clip on what Milton Friedman had to say about minimum wages,

 

Don Boudreaux at Cafe Hayek has a good compilation of some libertarian links against raising the minimum wages. You can read them here.

Since so much has been written on this, and I think the title of this post is clear on where I stand on this debate, I thought of posting two cartoon strips on this topic.

PayneMinWage

Source

BDAQWwuCAAEKNtb (1)

Source

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