Tuesday, September 17, 2013

Minimum Wage Madness...


Thomas Sowell Thomas Sowell: Minimum Wage Madness Political crusades for raising the minimum wage are back again. Advocates of minimum wage laws often give themselves credit for being more "compassionate" towards "the poor." But they seldom bother to check what are the actual consequences of such laws.
Minimum Wage Madness: Part II A survey of American economists found that 90 percent of them regarded minimum wage laws as increasing the rate of unemployment among low-skilled workers. Inexperience is often the problem. Only about 2 percent of Americans over the age of 24 earned the minimum wage.

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