Thomas Sowell

No one says things like that any more-- which is a shame, because the effect of a minimum wage law does not depend on what anybody says. Blacks in general, and younger blacks in particular, are the biggest losers from such laws, just as younger and minority workers are in Europe.

Those Americans who are pushing us toward the kinds of policies that Europeans impose on pharmaceutical companies show not the slightest interest in what the consequences of such laws have been.

One consequence is that even European pharmaceutical companies do much of their research and development of new medications in the United States, in order to take advantage of American patent protections and freedom from price controls.

These are the very policies that the European imitators want us to change.

It is not a coincidence that such a high proportion of the major pharmaceutical drugs are developed in the United States. If we kill the goose that lays the golden egg, as the Europeans have done, both we and the Europeans-- as well as the rest of the world -- will be worse off, because there are few other places for such medications to be developed.

There are a lot of diseases still waiting for a cure, or even for relief for those suffering from those diseases. People stricken with these diseases will pay the price for blind imitation of Europe.

The United States leads the world in too many areas for us to start imitating those who are trailing behind.


Thomas Sowell

Thomas Sowell is a senior fellow at the Hoover Institute and author of The Housing Boom and Bust.

Creators Syndicate



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