I wrote a few comments explaining why John Edwards’ recent poverty tour may serve as good rhetoric but, in the end, demonstrates very poor economic thinking. His ideas essentially represent the failed “war on poverty” initiatives that came out of LBJ’s “Great Society” foolishness. It’s a 2007 remix of a few old, tired, played out ideologies. The programs didn’t work in the 70s and 80s and they won’t work if Edwards becomes president. Edwards wants to raise the minimum wage to nearly $9.50/hour. Where does Edwards expect that money to come from? In the long run, these ideas eventually hurt the poor as we witnessed before Congress overhauled welfare in 1996.
You can read my comments at the Detroit News as well an extended version of the same editorial here at the Acton Institute.
