Definitely click through, this is a fantastic essay over at Cafe Hayek. As others have said, the main argument against the minimum-wage, in my opinion, is moral. The economic and Constitutional arguments only serve to buttress that. If there were evidence (logically or…
Tag Archive for Minimum-Wage
Thoughts On The Minimum-Wage Dust-Up, The Moral Problem …
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Let’s concede for a moment that a legislated minimum-wage has no negative effect on employment (I find that hard to believe), or that the effect is minimal (I suppose that’s possible in some scenarios depending on other factors, for example, if it…
Henderson On The Wages and Blame
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Brilliant explanation. Definitely click through, it’s brief and perfect. Blaming the Person Offering you the Best Deal, David Henderson -EconLog: I saw a woman on Stossel tonight who works for McDonald’s. She said she was paid $8 an hour, but…
Q: How Is American Samoa Like The U.S. Mainland?
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Q: How Is American Samoa Like The United States Mainland? [ Classic Milton Friedman on the Minimum Wage ] A: The exact same economic laws apply in both places, just like the same laws of physics apply in both places. Soooo…
Minimum Wage Revisited
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I post about the govt.-enforced minimum-wage laws here often. They are a particular pet-peeve of mine, and they are near perfect lesson in the differences between intentions and results. So let ‘s look again. Yesterday’s WSJ offered a nice treat.…
Why Be So Cruel, Why Not $50 / Hour?
by speedmaster • • 2 Comments
As the The Freeman asks, why only $10 and not say $20, $50, or even $100 per hour? If we can alleviate poverty by a mere stroke of the pen, why leave people still struggling with only $10/hour? While they’re…
Two Quick Questions To Ponder …
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1. If companies/corporations can simply get rich by being greedy, “gouging”, and otherwise scr*wing customers. Why does any company/corporation ever go out of business? 2. If minimum-wage laws are necessary to prevent employers from paying less than that, why does…
Are Volunteers Exploited?
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This great cartoon makes me wonder. If we believe that those making a low wage are being exploited, what should we think of volunteers? What about students doing an unpaid internship? (pic via Bastiat Institute) As an aside, I wonder…
It’s Often The Exact Opposite …
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Over the last decade I’ve noticed how many issues in economics, or at least the political economy, turn out the exact opposite of what was intended or promised. Now I’m not referring to a slight or even moderate divergence from…
GREAT Point On The Minimum-Wage
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I wonder how many politicians who have supported a legal minimum-wage over the years, have had their own unpaid interns. Drs. Caplan & Carden knock this one out of the park. 1. If the minimum wage is a good idea,…