9 ms·
If you raise the price of cigarettes through taxes, less people buy cigs. Same for gambling, driving, flying, etc. If you raise the price of labor through mini
by aussir 6y ago
If you raise the price of cigarettes through taxes, less people buy cigs. Same for gambling, driving, flying, etc.
If you raise the price of labor through minimum wage, you fix poverty. Opposed to literally everything else plus evidence.
- simsla 6y agoThis fallacy is addressed in the article, I suggest you read it. The key point is that wages are being kept artificially low by monopsonies. And the evidence supports this. (Current hyperlocal minimum wage laws make for good A/B-ish tests.)
- imtringued 6y agoMinimum wage doesn't guarantee you get any wage at all. It's a toothless tiger and can't fix poverty. Offer a job guarantee and then we'll talk.