tag:blogger.com,1999:blog-2807403883562053852.post870396042719361948..comments2024-03-27T08:40:31.785-06:00Comments on Clayton Cramer.: Never Listen to EconomistsClayton Cramerhttp://www.blogger.com/profile/03258083387204776812noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2807403883562053852.post-30362621249521445952017-06-19T22:57:47.250-06:002017-06-19T22:57:47.250-06:00When the minimum wage increase was being discussed...When the minimum wage increase was being discussed I recall something about $15 being the amount necessary to put it at the 1967 level. The idiots who pushed this rate forget that subsequent to 1968, the 1969 recession hit so hard that economists were predicting that engineers would never be in demand again, and famously, one columnist wrote, "civilization as we know it, is crumbling". The seventies, of course were the decade of "stagflation", and national ennui, and Carter's era of diminished expectations (I don't give Ford a pass, but I can't think of anything he said).<br />Paul Voelker had to wring the inflation out of the economy with 20% interest and Reagan's tax cuts had to get the economy going again. <br />From 1967 that's more than 15 years. <br />Higher Minimum Wages are anti economics, which is first cousin to anti science. Or rather, Leftist economics is Cargo Cult economics. <br />Windy Wilsonhttps://www.blogger.com/profile/01951254236693386401noreply@blogger.com