Friday, June 18, 2004

Economic illiteracy on the campaign trail

The New York Times reports:
"Democratic presidential candidate John Kerry on Friday proposed raising the federal minimum wage to $7 an hour by 2007, which he contended would benefit working women more than any other group."
Stephen Carson is appropriately despairing in response:
It is moments like this that make me wonder why economists even bother. It would be as if mathematicians impotently watched in horror, year after year, decade after decade, as prominent community leaders talked about 2 + 2 being equal to 5.
Yeah, It'd be really nice someday to be able to vote for a major candidate who understood any economics at all.

And could express any strong beliefs that didn't come from a focus group.

And was willing to declare an end to the War On Drugs and take US troops out of all the 100+ countries where we aren't actively at war with anybody, and hold the line on both military and domestic spending...

And, hey, while we're at it, I'd like a pony.

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