3 ms·
Isn't it by definition artificially high if you have to enact a law to enforce it? I mean, if it wasn't artificial, that would already be the wage...
by epmatsw 13y ago
Isn't it by definition artificially high if you have to enact a law to enforce it? I mean, if it wasn't artificial, that would already be the wage...
- artsrc 13y agoBy artificial I mean "different from a market outcome". There is quite clearly an asymmetry in information and market power between Wal-Mart and individual employees. This will inevitably lead to artificially low wages. So raising them with a law will return them to a free market level, where free market implies complete information, interchangeable goods and services, and lack of market power