Thomas Sowell



During the late 1940s, when the minimum wage law had essentially been repealed by inflation, 16- and 17-year-old blacks in 1948 had an unemployment rate of 9.4 percent, slightly lower than that of whites the same ages and a fraction of what it would be in even the boom years after the minimum wage rate kept getting increased by liberal Democrats.


Even when liberal Democrats try specifically to help blacks, the results often backfire. The political crusade for "affordable housing" and minority home ownership drew many blacks into homes they could not afford. The net result was an especially high rate of foreclosure and, in the end, black home ownership rates lower than they were before the "affordable housing" crusade began.

Listening to political rhetoric often leads to opposite conclusions from those resulting from checking out hard facts -- and not just for blacks.

Thomas Sowell


Creators Syndicate