French Logic

I’ve blogged a lot about the minimum wage (try searching), so I won’t go into it again. The situation is well understood, at least by economists. The American public, however, almost always supports an increase in the minimum wage in the apparent belief that it will make things better. Politicians are inclined to follow the public’s lead, even when they know better. The French seem to feel the same way, with their new head honcho declaring a boost in the minimum wage, claiming it will boost consumption. Economists everywhere are beating their heads against whatever wall they can find. The only good thing that I can see in this is that it proves that French politicians are no better than American politicians. Shed a tear for France.

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