Friday July 18, 2025
  • Venezuela
  • Mexico
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Podcast
Versión Español
PanAm Post
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact
No Result
View All Result
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact
No Result
View All Result
PanAm Post
No Result
View All Result

Home » Peter Schiff, I Salute You: Don’t Back Down on the Minimum Wage

Peter Schiff, I Salute You: Don’t Back Down on the Minimum Wage

Fergus Hodgson by Fergus Hodgson
February 6, 2014
in Economics
FacebookTwitterTelegramWhatsapp

Last week I wrote about the economic folly of the Daily Show segment on the minimum wage and their attack on Peter Schiff. However, as more evidence has come to light, the actions of the television show staff appear even more disingenuous and unsavory.

Schiff, president of Euro Pacific Capital and an exemplary advocate for free enterprise, has not bowed to hate mail and shaming against him. Not a stranger to criticism, he has hit back — in print and via his radio show — and with good reason.

RelatedArticles

Why are some diamond brands so expensive?

Why are some diamond brands so expensive?

January 23, 2024
When the Economic Terrorists at the WEF Felt Terror of Their Own

When the Economic Terrorists at the WEF Felt Terror of Their Own

January 20, 2024

If you’re the sort of person to listen to talk radio, the full hour is worth your time. Even the first half hour will give you a sense for why he is justified in describing the segment as a hit piece. He was, as he reflects, “walking into a trap.”

“But given how counterproductive I know such [a minimum wage] increase would be to those the law proposes to help, I took the risk anyway.”

That trap entailed cutting four hours of footage into about 75 seconds of on-air time — during which the editors mixed various clips that did not even go together, but they made it appear that way in the segment.

Schiff had, for example, explained that the minimum wage stopped less skilled people from competing with more skilled people. The scenario he offered was two people working at $7 per hour undercutting one person at $15 per hour. Samantha Bee did not show that, though, just her response: “Why have one job for $15 an hour, when you could have two jobs for $7.50 an hour?” Then she superimposed a clip of Schiff from an entirely different segment of the interview: “Would you rather do that or pay twice as much for your burger?”

Perhaps I should have known better, because that line of discussion from Schiff did seem awkward. Now he is calling on The Daily Show to release the uncut footage, so people can verify for themselves whether they accurately represented him.

daily-show
The Daily Show screenshot. Source: Mises.ca.

All the highly misleading editing aside, the producers couldn’t event get the supply and demand curves right — which just goes to show how much concern they have for basic economics, what Schiff sought to explain. Sure, they updated the clip after the show on the website, but this is what they released live.

Tags: Minimum Wagepeter schiffthe daily showunited states
Fergus Hodgson

Fergus Hodgson

Fergus Hodgson was the founding editor in chief of the PanAm Post, up until January 2016. Follow @FergHodgson and his Facebook page.

Related Posts

Why are some diamond brands so expensive?
Analysis

Why are some diamond brands so expensive?

January 23, 2024
When the Economic Terrorists at the WEF Felt Terror of Their Own
Argentina

When the Economic Terrorists at the WEF Felt Terror of Their Own

January 20, 2024
China Plans to Launch ‘Crypto-Yuan’ to Bolster Communist Regime’s Control
Asia

China Plans to Launch ‘Crypto-Yuan’ to Bolster Communist Regime’s Control

January 15, 2021
Purchase of Damaged Dollar Bills Is the Latest Unusual Business in Venezuela
Venezuela

Purchase of Damaged Dollar Bills Is the Latest Unusual Business in Venezuela

January 14, 2021
Why the Real Villain of 2020 Was Big Government
Coronavirus

Why the Real Villain of 2020 Was Big Government

January 9, 2021
Diosdado Cabello Sidelined in Chavista National Assembly
International Relations

OPEC Reaches Production Agreement Without Lowering Guard Due to New COVID-19 Wave

January 6, 2021
Next Post
Ecuadorian Cartoonist “Rectifies” His Joke Under Government Sanction

Ecuadorian Cartoonist "Rectifies" His Joke Under Government Sanction

Subscribe free and never miss another breaking story

  • Venezuela
  • Mexico
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Podcast

© 2024 PanAm Post - Design & Develop by NEW DREAM GLOBAL CORP. - Privacy policy

No Result
View All Result
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact

© 2024 PanAm Post - Design & Develop by NEW DREAM GLOBAL CORP. - Privacy policy

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. Privacy and Cookie Policy.