Minimum Wage, Maximum Damage
Jim Cox explains all that is wrong with minimum-wage laws and how they cause more harm than people realize. Contrary to the ranting claims of the political class, they help no one other than big labor and big business.
The idea of the minimum wage was first argued a century ago in scholarly, academic journals. It sought to exclude undesirables from the workforce and make room for people that generation regarded as educated, skilled, and fit for productive work.
Today, the rationale is somewhat different. The minimum wage law is intended to help the poor gain higher salaries. The law’s proponents declare it establishes a support level for wages. But, in reality, it closes the door on employment for everyone who is not productive enough to earn that minimum wage level.
Minimum Wage, Maximum Damage provides concise proof that minimum wage laws have been destructive, and are policy failures supported by political persistence.
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