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Bonus Quotation of the Day…

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… is from page 58 of my late, great colleague Walter Williams’s 2011 book, Race & Economics (original emphasis): The real problem is that workers are not so much underpaid as they are under-skilled. And the real task is to help those people become skilled. Congress cannot do this simply by declaring that as of such-and-such a date, everybody’s productive output is now worth .25 per hour. This makes about as much sense, and does just about as much harm, as doctors “curing” patients simply by declaring that they are cured. Comments

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… is from page 58 of my late, great colleague Walter Williams’s 2011 book, Race & Economics (original emphasis):

Bonus Quotation of the Day…The real problem is that workers are not so much underpaid as they are under-skilled. And the real task is to help those people become skilled. Congress cannot do this simply by declaring that as of such-and-such a date, everybody’s productive output is now worth $7.25 per hour. This makes about as much sense, and does just about as much harm, as doctors “curing” patients simply by declaring that they are cured.

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Don Boudreaux
He is a professor of economics at George Mason University in Fairfax, Virginia. Previously, he was president of the Foundation for Economic Education.

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