3 ms·
Minimum wage and rent control are both examples of price controls. This is Econ 101 terminology.
by testfoobar 6y ago
Minimum wage and rent control are both examples of price controls. This is Econ 101 terminology.
- tomlu 6y agoAustralian minimum wage is about 15 USD per hour, which is a wage that can sustain people if they do not spend excessively. The economy is not tanking, the same type of jobs exist. Are you claiming that the Australian standard of living is generally horrible as a result of this? That it would otherwise be better for everyone if there were no minimum wage?