During my research on arguments FOR an increase in the minimum wage (I always do my research starting from attacks on my beliefs), I came across many ludicrous arguments. Top among these was one put forth in the paper, "The Unexpected Long-Run Impact of the Minimum Wage: An Educational Cascade" by Richard Sutch. Contrary to most arguments put forth by minimum wage advocates, Prof. Sutch acknowledges that minimum wage laws DO drive out employment in entry level positions. But then he goes on to claim that this is a good thing and actually refers to this result as "the engineered shortage of low-skill, low-paying jobs". Why does this sage professor believe that eliminating jobs is a good thing? Well because he sees that not being able to find work keeps kids in school longer. He correlates years of high school education with the advent and growth of the minimum wage and finds that over a thirty five year period increases in minimum wage and the subsequent elimination of jobs has caused a .7 year increase in school attendance. One might rationally question if this is a good thing. The cost of education has come at an ever greater social cost and its value to the recipient has declined. A high school diploma is practically worthless in the job market and a college degree is steadily losing value. Employers are more interested in hiring people with experience. The type of experience that people can get during high school fulfilling "low-skill, low-paying jobs". Why do social engineers not see the human consequences of their actions? We are being engineered into an egalitarian and impoverished society.
Posted on: Mon, 24 Jun 2013 23:36:28 +0000
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