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# Mandated Wages and Discrimination

Try Churchill. "If you are young and not liberal, you have no heart. If you are old and not conservative, you haven't a brain." It may not be exact but it is close.

## Mandated Wages and Discrimination

Let's work through an example. Suppose 100 yards of fence could be built using one of two techniques. You could hire three low-skilled workers for \$15 each, or you could hire one high-skilled worker for \$40. Either way, you get the same 100 yards of fence built. If you sought maximum profits, which production technique would you employ? I'm guessing that you'd hire one high-skilled worker and pay him \$40 rather than hire three low-skilled workers for \$15 each. Your labor costs would be \$40 rather than \$45.

Suppose the high-skilled worker came into your office and demanded \$55 a day....

## Breaking on TOWNHALL

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