3 ms·
I see what you are saying but I don't think that addresses my point that the higher minimum wage, which by your example causes some of the welfare benefits to s
by gwright 7y ago
I see what you are saying but I don't think that addresses my point that the higher minimum wage, which by your example causes some of the welfare benefits to stay with the recipient and not the employer, also results in unemployment for people who can't bring enough value to the table.
I'm not claiming I have a good solution, just pointing out the side effects of the high minimum wage (higher that the otherwise natural market clearing price).