What’s the No. 1 step the federal government could take now to address our economic woes? Bloomberg Businessweek asked University of Texas professor James K. Galbraith, son of one the most prominent Keynesian economists in history.
So what should be done? Since we cannot persuade people to make investments in the reconstruction of the country, I would say right now the most useful step we might take is a massive increase in the minimum wage.
Surely, he jests. Perhaps he needs a refresher course on the impact of a government-mandated minimum wage.
