An Economics Lesson

Thomas Sowell give a nice explanation why increasing minimum wage is bad....

A survey has shown that 85 percent of the economists in Canada and 90 percent of the economists in the United States say that minimum wage laws reduce employment. But you don't need a Ph.D. in economics to know that jacking up prices leads fewer people to buy. Those people include employers, who hire less labor when labor is made artificially more expensive.
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There is no free lunch. Higher labor costs mean fewer jobs.

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