The Left Gambles with Your Life That It Knows Better Than You, by Thomas Sowell.

One by one, innumerable decisions have been taken out of the hands of those directly affected. This is not just something that has happened. It is a central part of the agenda of the political left, even though they describe what they are doing in terms of the bad things they claim to be preventing and the good things they claim to be creating.

Minimum wage laws are described as preventing workers from being “exploited” by employers …

This is an issue that is very personal to me. When I left home at the age of 17, going out into the world as a black high school dropout with very little experience and no skills, the minimum wage law had been rendered meaningless by ten years of inflation since the law was passed. In other words, there was no minimum wage law in effect, for all practical purposes.

It was far easier for me to find jobs then than it is for teenage black high school dropouts today. After the minimum wage was raised to keep up with inflation, for decades the unemployment rate for black male 17-year-olds never fell below TRIPLE what it was for me — and in some years their unemployment rate was as much as five times what it was when I was a teenager.

Yet many people on the left were able to feel good about themselves for having prevented “exploitation” — that is, wage rates less than what third parties would like to see. No employer in his right mind was going to pay me what third parties wanted paid, when I had nothing to contribute, except in the simplest jobs.

As for me, my options would have been welfare or crime, and welfare was a lot harder to get in those days. As it was, the ineffectiveness of the minimum wage law at that time allowed me time to acquire job skills that would enable me to move on to successively better jobs — and eventually to complete my education. Most people who have minimum wage jobs do not stay at those jobs for life. The turnover rate among people who are flipping hamburgers was found by one study to be so high that those who have such jobs on New Year’s Day are very unlikely to still be there at Christmas.

In short, the left has been gambling with other people’s livelihoods — and the left pays no price when that gamble fails.

hat-tip Chris