Edgar the Entrepeneur

A man who gives his children habits of industry provides for them better than by giving them fortune. -- Richard Whateley





Edgar the Entrepeneur is a video cited by the Ludwig Von Mises Institute, which beautifully describes the consequences of minimum wage policies. I recommend you see it.

I have long advocated that minimum wage laws should be abolished. They are the cruelest hoax currently being perpetrated by the elected ones. I have two teenage boys neither of which, apparently, is worth $7.35/ hr. Both are good workers with many skills, but neither is employed despite many applications.

I would quickly send them both to work for a combined $7.35 an hour just to get them some experience. Each of them would be better off, as would the lucky company that could use their talents. But sadly, because of misguided public policy, the three bottom rungs on the ladder are missing.

Qui Bono? Who is this benefitting? China I suppose. China and the other growing countries that have an unlimited supply of 3 dollar labor. Unfortunately, we would rather export the jobs than allow the companies that produce the products succeed in manufacturing those goods here.