The Minimum Wage Is A Dumb Idea And Always Has Been

SEE HERE Save me from all the do-gooders in the world who pass laws which have good intentions and generally horrible consequences in the real world. The idiots that do these things never listen and there are really no beneficiaries. It just creates labor market dislocations. It causes teenagers who might otherwise be employed in entry level jobs to not be employed which means there are more of them on the streets. And it doesn't help anyone because the rest of the people are working in jobs that exceed minimum wage because they're worth more than the minimum wage. There's no such thing as a free lunch. When you overprice an asset you reduce the number of buyers. When you underprice an asset you get a big number of buyers but a shortage of supply. You can't fool mother nature or the free market. It doesn't work idiots. But some dumb ideas just sound so good that they become addictive.