The Consequences of Cheap Money
The Misuse of Economic Language
Friedrich August von Hayek (1899-1992)
Native Americans Find Way to Make Money, Feds Outlaw It
In California during the late nineteenth and early twentieth centuries, anti-Japanese sentiment ran high, in spite of the fact that they never comprised more than 3 percent of the population. To discourage Japanese immigration to California and to curb the wealth of the immigrants themselves, a large number of major employers agreed among themselves to not hire any Japanese workers. At the same time, politicians at the state legislature passed laws prohibiting Japanese immigrants from working in various occupations.