I am going to construct a complicated mathematical model of the economy, and then I’m going to calibrate it using some actual data, and in the end I will be able to tell everyone how much better or worse off they are given various changes in the economy. And it will be totally and completely true. Trust me, it’s math and therefore science.
The minimum wage has been a big part of this year’s election cycle, mainly due to Bernie Sander’s campaign and his idea of a national minimum wage. There has been lots of discussion of this, but most of it is just, well, bad. There are really two things that one can point to as to why wages above the market wage can be good.
The idea that Donald Trump has gotten his racialized rhetoric from libertarians is simply errant nonsense. The libertarian view, broadly speaking, is not defined by Murray Rothbard, Llewellyn Rockwell, and Ron Paul and those who share their views. This is but a small and even fringe group of what could be called the libertarian community.