As to whether an increase in the min­imum wage helps those who need it, con­sider this fact: 39 per­cent of white teens find summer jobs, while only 19 per­cent of black teens do, according to North­eastern University’s Center for Labor Market Studies. That 20 per­cent gap could have mul­tiple causes, but one con­tributing factor is surely that finan­cially weaker busi­nesses in inner cities can’t afford to pay the min­imum wage.

A cynic, according to Oscar Wilde’s Lord Dar­lington, is a person who knows the price of every­thing and the value of nothing. In the debate over the min­imum wage, it’s the econ­o­mists who think price is every­thing, and values are nothing.

Read the article at Boston Herald →