> ...companies have more power in negotiation... Workers can't usually live too much without finding a job... That's why minimum wage laws and workers rights ar

> ...companies have more power in negotiation... Workers can't usually live too much without finding a job... That's why minimum wage laws and workers rights are important. Is this true? Do you agree that reducing the minimum wage would open up more jobs that couldn't previously exist, and increasing it would close existing jobs? For example, if I want to start a lemonade stand that serves my entire neighborhood, I'm gonna need help. If I have to pay the help $50/hr at minimum, then I will probably not open the lemonade stand. I think in this case it is obvious that too high of a minimum wage can result in a suboptimal outcome. The next best solution is to enter an informal agreement with my worker, which is an even worse outcome because now no one is protected.