Prager University – What’s the Right Minimum Wage?
In a new video from Prager University, economist David Henderson explains why raising the minimum wage isn’t a good idea.
Here’s more information.
Course Description
What’s the perfect minimum wage: is it $10 an hour? $15? $20? How about zero? That’s right. Zero. While Congress discusses a minimum wage hike, economist David Henderson shows that any minimum wage makes it harder for unemployed people (particularly young people) to find work and forces business owners to cut the hours of lower-skilled employees.
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Comments
There would be no need for minimum wage laws if in the last 30o years the government hadn’t been in the process of destroying any advantage the worker has by flooding the labor market with illegal aliens, immigrants, guest workers and shipping jobs overseas with free trade agreements.
Only somebody as stupid as an academic economist would argue that no minimum wage is needed because they live a a fantasy world where the “market” mysterious fixes everything. In their idiotic world if wages were zero nobody would be unemployed. Well gee the only thing that matters is whether somebody has a job not the quality of life to the great majority of people. People need to eat and keep a roof over their head. As long as there is a massive excess of labor, somebody will work for nothing – usually an illegal alien used to sleeping on a dirt floor.