Today’s Albuquerque Journal contained the latest admission (this one by Republican legislator Jimmie Hall) that New Mexico’s economy stinks. The article made a bunch of points about our state’s poor economic performance, but almost willfully refused to come to conclusions (like blaming New Mexico’s lack of economic freedom).
Enter gubernatorial candidate Gary King and his first ad which can be seen below:
The good news is that King actually mentions two specific policy reforms that he’d support (I respect politicians that actually put specific ideas on the table): raising the minimum wage and mandating “equal pay” for women. The bad news is that not only are these policy ideas bad, but they are also exactly what one would expect from a “run-of-the-mill” liberal Democrat. At very best, raising the minimum wage will do little economic harm in terms of lost jobs while giving a small group of low-wage workers a small boost, but this is hardly a policy move that will turn New Mexico’s economy around.
The “equal pay” idea is even sillier. Passing a new regulatory regime to track the pay of men and women will do nothing for the economy.
Rather than burdening New Mexico’s struggling economy with even more regulations, I’d love to see King break free from the leftist “splitting up the fixed pie” mode of economic thinking and instead put forth some ideas that expand the pie by acknowledging that the private sector drives prosperity across all income levels and gender divides. Oh, and if you want to work at Wal Mart and make $17 an hour, you don’t need a higher minimum wage, you can do that right now in North Dakota.