Oregon Votes to Repeal Laws of Supply and Demand
Like the apocryphal story of the state legislature that passed a law dictating that pi equals 3, the Oregon state legislature has passed two laws that pretend the laws of supply & demand don’t exist. The difference is that, in reality, no state legislature ever did pass a law saying that pi equals 3, but Oregon’s legislature is totally ignoring basic economic principles. First, earlier this week, the legislature passed a new minimum wage law increasing the minimum to as high as 14.75 per hour in the Port…
more at Source: Oregon Votes to Repeal Laws of Supply and Demand | Foundation for Economic Education
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