[beyond the sea]

He said that in his press conference. He does NOT understand anything real about economics. He is a self proclaimed Keynesian

I take you word for it that he said it. You sound honest.

Then, he's an economic fool.

I majored in Economics back in the mid-60's at a University known for that school. It was all bull then and more bull now.

The minimum wage is no business of the government in this society.

[arthurus]

It was all bull because most Universities do not teach economics, they teach "Economics" . When the professor uses Greek looking symbols on the board and speaks dense argot he is a normal University Prof and also a fraud, unless he believes it himself, in which case he is a fool. Ronald Reagan got his degree in Economics, probably the only president who has studied it for real, in a college that taught real Classical Economics. He used his economic understanding of choice and motivation to bring down the Soviet Empire.

[arthurus]

If you are interested go find a slim little book by Henry Hazlitt called Economics In One Lesson. It will very quickly teach you to extend logical trains of argument about economics and you will never again be snowed by arguments for foreign aid or minimum wage or price controls, etc. because you will automatically think of the next stage of the process and the next. After Hazlitt if your appetite is whetted read Ludwig Von Mises- it's in English.