Five economists who either won the Nobel Prize in economics or who served as president of the American Economics Association -- and three who did both -- recently joined over 600 other economists in urging the federal government to increase the minimum wage. The signatures were gathered by the union-backed Economic Policy Institute (EPI), which unsurprisingly supports substantial government intervention in the economy.

I guess this is supposed to make us think more of the minimum wage. Instead, it makes me think less of the Nobel Prize in economics and the American Economics Association.

Read the rest of this week's TGIF column at the Foundation for Economic Education website.

Cross-posted at Free Association.