July 31, 2008
On the Minimum Wage
The minimum wage went up last week. Among the stories I read about it I don't think I saw a single story about the unintended consequences. So I wrote this. The closing paragraph:
During this period of economic downturn, the actual effects of the minimum wage become obscured and support for an increase is gathered. Instead of recognizing the negative consequences for what they are, many pundits and politicians erroneously point to the struggling economy as evidence of how badly change is needed. While the minimum wage regulation is intended to be a boon for low-wage workers, economic evidence clearly indicates the opposite. If we are serious about providing opportunities for the disadvantaged, the minimum wage should be repealed altogether.
ATSRTWT.
Posted by Art Carden at 09:56 AM in
Economics