I doubt studies connect what happens to employment when a bubble collapses. It is then that the full effects of a drop in demand are felt and the new higher wa

I doubt studies connect what happens to employment when a bubble collapses. It is then that the full effects of a drop in demand are felt and the new higher wage really causes demand to collapse. By then, everyone advocating this price control is long gone. Its a time bomb that explodes in the faces of low wage workers, preventing them from repricing their services to mer the new conditions. Of course, smaller, smarter countries like Ireland figured that out and cut their minimum wages in response to the lowered demand.