Tuesday, March 10, 2015

Maximumly Misleading on Minimum Wages

Key Excerpt from the article  from Dr. Boudreaux:

"Until and unless a compelling reason is found to conclude that low-skilled labor, apparently alone among all goods and services, is not subject to this economic reality (and neither the alleged monopsony power of employers nor the presumed ability of higher minimum-wages to spark sufficiently greater consumer demand comes within light-years of “compelling”), wise economists will and should continue to warn that minimum wages inflict disproportionate harm on the very workers who they are ostensibly meant to help."

An excellent read.

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