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Do You Know
Basic Economics?

Minimum Wage Laws and Do Unions Really Raise Wages?

A Professor Emeritus of Economics at Pepperdine University, George Reisman joins the discussion when we come to Chapters 19 and 20.  Following his basic motif of explaining a common fallacy and then its problems, Hazlitt attacks the all-too-common notion that a government which sets a minimum wage is helping the poorest citizens the most.  He then addresses the other popular misconception that unions bring better wages.