What are the effects of the minimum wage/increases in the minimum wage? "The net loss to society that results from this sweeping act of “wrongful discharge” is staggering. Those losses include: (1) The loss of employment to the individual himself, (2) the shrinking of the economic pie by the loss of his productive contribution, (3) the financial loss to society in supporting him in his idleness (unemployment compensation, welfare, etc.), (4) the financial loss in funding useless job training programs and other government efforts to get him re-employed, and (5) the net loss to society in having consumer prices driven up to cover the higher labor costs, and the loss of market share to foreign competition that may occur." fee.org/the_freeman/detail/the-minimum-wage-good-intentions-bad-results
Posted on: Thu, 19 Sep 2013 03:42:29 +0000
Trending Topics
Recently Viewed Topics
© 2015