So, way back in that Octber 6 post we pointed out that "Captain Capitalism" Aaron Clarey appears to have the reading comprehension of a six-year old, but could at least look at pictures. But an alert correspondent points out that Aaron has already showed an inability to understand pictures in this post, titled "NEWS FLASH!!! WORLD"S TWO DUMBEST WOMEN FOUND!
Here, Aaroncriticizes Chicago for passing a minimum wage law essentially aimed at Wal-Mart, claiming that it will reduce employment. And indeed, while it turns out to be very hard to quantify the effect of minimum wage laws from real data, the theoretical arguments that they reduce employment are strong. Aaron then shows us a picture of the "world's two dumbest women" celebrating passage of the law.
And what do we notice? The women are wearing union local T-shirts. They are union members. Now, do organizations whose negotiating strength comes from withholding labor, benefit or suffer when it becomes more expensive to hire new workers? And if they benefit, are the women "dumb," or "cunning"?
Boy, I guess Ricardo and rent-seeking really are in those super advanced ec courses, the ones real economists take!
Our correspondent suggests that Aaron's real problem is that the "two dumbest women" are members of two groups - blacks and women - whom Aaron has been known to slime. But I disagree: I think in this case he's just genuinely ignorant!
But just to make everybody happy, we'll follow up with a post (above) where Aaron decided to side with the racists over the capitalists!
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