The worst thing about the interventions into the labor market is that they prevent people from being hired.
It would be far better to hand aid to the working poor directly than to have a minimum wage or impose regulations that make hiring the working poor more expensive.
Many people seem to think making the employers pay somehow reduces their profits with no other ill effects. But in reality, it is also likely make prices go up. OR the take home pay of workers go down or rise more slowly.
Just because these effects don't happen immediately doesn't mean they don't eventually happen or that they don't accumulate. And just because you don't understand how artificial prices interfere with supply and demand doesn't mean the effects aren't real.
If you are one of the least productive laborers, your labor may not be worth the minimum wage to anybody. You're completely shut out. Good luck finding a place to live under the nearest bridge.
It would be far better to hand aid to the working poor directly than to have a minimum wage or impose regulations that make hiring the working poor more expensive.
Many people seem to think making the employers pay somehow reduces their profits with no other ill effects. But in reality, it is also likely make prices go up. OR the take home pay of workers go down or rise more slowly.
Just because these effects don't happen immediately doesn't mean they don't eventually happen or that they don't accumulate. And just because you don't understand how artificial prices interfere with supply and demand doesn't mean the effects aren't real.
If you are one of the least productive laborers, your labor may not be worth the minimum wage to anybody. You're completely shut out. Good luck finding a place to live under the nearest bridge.