Potent Quotables (updated periodically)

  • "If you like sausages and laws, you should never watch either one of them being made." -- Otto von Bismarck
  • "God who gave us life, gave us liberty. Can the liberties of a nation be secure when we have removed a conviction that these liberties are the gift of God? Indeed I tremble for my country when I reflect that God is just, that his justice cannot sleep forever." -- Thomas Jefferson
  • "The best way to prove a stick is crooked is to lay a straight one beside it" -- FW Boreham
  • "There are two kinds of people in the world. Those who walk into a room and say, 'There you are' and those who say, 'Here I am'" -- Abigail Van Buren
  • "It was not political rhetoric, mass rallies or poses of moral indignation that gave the people a better life. It was capitalism." -- Thomas Sowell

Friday, August 28, 2009

18.5%

That's the July unemployment rate for 16-21 year-olds. Why? Three words: minimum wage increases. Basic economics, people. Increase a business' costs with no corresponding increase in output or revenue, and you have a problem. In that kind of environment, the easiest short-run solution for business owners is to lower employment costs (ie. fire existing employees or, alternatively, not hire additional employees), which means more teens (and other lower-wage workers) get left on the sidelines. Those jobs were neither created nor saved.
It's not rocket science.

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