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Minimum wage violates free marketTime to look away from government
solutions
James D. Miller has a great piece on the minimum wage at TCS
Daily.
Democrats want to raise the federal minimum wage from $5.15 to $7.25 an hour. But raising the minimum wage will harm unskilled workers. If the price of gas went up by 40%, people would buy less gas. Similarly, if the wages businesses must pay low skilled workers increased by the proposed 40%, then companies will buy (i.e. hire) fewer workers. Other commentators have already explained how the minimum wage destroys jobs. This article argues that even if raising the minimum wage caused a firm to hire exactly the same number of workers as before, the higher minimum wage could still harm the company's employees. The minimum wage is one of those "feel good" laws that does more harm than good. Aside from the silly notion that the minimum wage gives exactly the same benefits in New York City that it does in Conway, Arkansas, it really is government interference in the free market. The article explains some of the reasons why. Worth your time 
Posted: Wed - January 10, 2007 at 02:35 PM
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 Pagan Vigil
Pagan philosopher, libertarian, and part-time trouble maker, NeoWayland watches for threats to individual freedom or personal responsiblity. There's more to life than just black and white, using only extremes just increases the problems.  My Thinking Blogger Nominees
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