Friday, February 1, 2013

Minimum Wage . . . an Exercise in Futility

When the minimum wage is increased above the marginal revenue product, it becomes unprofitable for businesses to hire the least productive workers and unemployment increases.

The cost of goods will rise making the increase in the minimum moot.

Raising the minimum wage is an exercise in futility.No matter how high the increase, nor how high the wage . . . in the end there will always be a minimum scale.

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