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Your argument falls apart when you consider that the people who would be working those jobs overwhelmingly approve of the minimum wage. It's a coordination prob
by hexane360 3y ago
Your argument falls apart when you consider that the people who would be working those jobs overwhelmingly approve of the minimum wage. It's a coordination problem caused by the power imbalance between labor producers and consumers. Without the minimum wage, there would be a race to the bottom, but labor producers wouldn't end up better off. The minimum wage is effectively a national labor union.