Thursday, February 22, 2007
Mankiw and Reich
Mankiw criticizes Robert Reich for his economic non-sense: "Robert Reich says that, as a requirement for free trade deals, we should tell developing countries to "set a minimum wage that's half their median wage." The proposal raises two questions in my mind:1. Does Reich pay his nanny, cleaning person, and gardener more than half the median wage of members of his family?2. If not, should I refuse to buy his books?"