Good Intentions

In Good Intentions, Walter Williams, a noteworthy economics professor, discussed the unintended consequences of those good intentions.  He detailed his own youth, education, and job history compared to what was possible today (early 1980s).  Education had degraded since his time, seeing a dramatic rise in administrators at the cost of resources to the classroom.  Furthermore, efforts to give control of education to parents was foiled by teachers' unions and government.  Where he had a job as a teen for a $1/hour, a modern teen could not be hired for less than $3.35/hour.  That minimum wage, intended to protect the youth from an employer who would take advantage, limited the number of teens who could be hired.  Rather than get job experience - even for a pittance, the teen was instead unemployed.  Then there was the licensing scam.  Many governments required a license to participate in an industry.  He gave the example of driving a cab.  In Philadelphia, it cost $20,000 to get a license and thus be an independent cab driver.  By contrast, Washington D.C. only required $50.  Unsurprisingly, vastly more cabs were available in DC and there were more independent cabbies.  All too often, government efforts to assist the citizenry results in exactly the opposite.

Highly recommended.