Fall of the Argentine Economy: True, those who keep their jobs will earn more, but others will lose their jobs or fail to get one when new jobs are not created. Many who live in poverty are unemployed and thus will not benefit from an increase in the minimum wage. In fact, their prospects for employment will diminish.
True, those who keep their jobs will earn more, but others will lose their jobs or fail to get one when new jobs are not created.
Many who live in poverty are unemployed and thus will not benefit from an increase in the minimum wage. In fact, their prospects for employment will diminish. This increase will be at the expense of those who will become or will remain unemployed. We know this and yet minimum wage laws remain popular with public officials, editorial boards and voters who want to express their compassion for the working poor.
A more cynical reason is that advocating for an increase in the minimum wage is a way of making political points without having to account for an increase in government expenditures since the cost is presumably borne by employers.
Unlike government, however, employers cannot print money and the increased costs will be passed on to consumers in the from of higher prices, or will be shouldered by those that will not be able to find a job because their skills do not command a wage level theatrically dictated by government fiat.
Taxes Will Rise if FARC Deal Fails When government policy prices low-skilled workers and the inexperienced young out of the job market, skills atrophy, hope fades and tragically, unemployment becomes a way of life.
Our current persistent unemployment levels among the disadvantaged may very well be the lagging effect of our unreflective support of minimum wage laws.
Sixty years ago, the unemployment rate of to year-olds was less than eight percent. Today, after many rounds of minimum wage increases, youth unemployment is over 24 percent and close to 40 percent for black teenagers.
Are minimum wage laws responsible for creating this new norm? The idea that government can diminish poverty by making it more expensive for businesses to hire young and low-skill workers is illogical and worse, it is dishonest.
This is, of course, nonsense and so are minimum wage laws. We will not get good results from implementing a bad idea. Advocating for a higher minimum wage mandate is equivalent to advocating for higher unemployment.Fast food workers protest for higher pay ()When it comes to a mandated minimum wage, politicians irrationally trip over themselves in a classic case of good intentions, bad policy.
The Case Against a Higher Minimum Wage raising the minimum wage hurts the poor. It takes away jobs, keeps people on welfare, and encourages high-school students to drop out. Policy makers should be clear on the consequence of higher minimum wages. 10 Simple Arguments against the Minimum Wage.
Peter Schiff made an appearance on the Joe Rogan Podcast last week. Rogan allowed Schiff to make his case against the minimum wage, and he did a .
Editorial board member Steve Moore on why Congress shouldn't hike the federal minimum wage to $ from $ Opinion: The . Nevertheless, raising the minimum hourly wage for the 23rd time since , from today’s George Will: A case against a higher minimum wage - Opinion - The Topeka Capital-Journal - Topeka, KS.
The Fight Against 15 Increasing the minimum wage so dramatically will damage the economic prospects of millions of vulnerable people.