The United States enacted its minimum wage law in 1938.  It didn’t cover all workers, and still doesn’t, but establishes a policy that in some cases government should abridge people’s freedom of contract to mandate a wage different from the one people might agree upon.  The “principle” appears to be that some wage levels…
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In a blog post last week I questioned the fairness of the $33 million settlement Bank of America had agreed to with the SEC for concealing information related to its merger with Merrill Lynch.  Now U.S. District Court Judge Jed Rakoff has put that settlement on hold, saying he is not convinced the settlement…
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