“Asking a liberal where prices and wages come from is like asking a six-year old where babies come from.” -Thomas Sowell
It’s all come to this, the final showdown. The third and final part of my debate with Mr. S begins on page 2 after a brief aside. This third part contains a lot of graphs and charts that present data in an easy-to-digest form, but also has enormous walls of text. Wait, that’s how I’m going to start this? Let me try this again: Inside you’ll find many of my arguments presented with pictures to visually represent vast amounts of data, making it easier to see and understand. (There, that’s much more fun!)
“There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen.”
When dealing with the economic effects of a policy it is paramount that we are able to see the unseen. In my debate with Mr. S last week several studies on minimum wage effects were referred to but not sufficiently analyzed (my bad). Especially in regards to the Krueger & Card study, it is important to realize that economists with an agenda will make the info say what they want the info to say. For example: the gender gap!