Wednesday, February 13, 2013
The Minimum Wage Is A Feel Good Stupid Idea
SEE HERE All the minimum wage does is cause unemployment among the people entering the job market looking for a first job. People with skills can generally have no problem getting paid more than the minimum wage because they can go to another job if their first job isn't paying them what they are worth. The whole employment thing is an exchange, a free exchange, of valuable work for pay proportional to the value of the work. If the work isn't worth the pay then there is not job. It goes away. If the work is more valuable than the pay the worker goes to an employer who recognizes the value. The minimum wage is just government paperwork in the middle of a free market exchange which prevents some exchanges at the low end of the scale from happening.