4 ms·
I don’t think context matters in this case. It is interesting to note that the “context” in which minimum wage laws are argued for in different countries might
by whb07 8y ago
I don’t think context matters in this case. It is interesting to note that the “context” in which minimum wage laws are argued for in different countries might be different, but the outcome is just the same.
Whether it is out of ignorance or malice, the result is the same. A distortion of the markets and inevitable back firing.
In the US the arguments for a minimum wage appear to be put forth under the auspices of “helping” the disadvantaged. Once the help gets established, the unemployment rates for minorities sky rockets.
Calling a turd a flower doesn’t make it less of a turd.
Below is a link to the great economist Thomas Sowell. It is always interesting to have a non economist and in this particular case a white lady try to tell him what the facts are regarding black employment as it relates to minimum wages.
https://youtu.be/r4SIEl1j8e4 https://youtu.be/r4SIEl1j8e4