If minimum wage laws cause unemployment, labor unions ought to be against such laws, not promoting them.
Who are the most vulnerable citizens in a country? Infants, children, youth, certain handicapped. Entrepreneurs going out on a limb starting new businesses are also vulnerable.
In certain countries supply and demand remain unregulated. Two vulnerable parties contracting to strengthen each other is common. Working together. Bothering nobody in the process.
In the U.S.A, lawmakers decided free market should not operate below a certain variable figure, namely the minimum wage! Look at the consequences:
Minimum wage laws “declare war” on our youth and handicapped! No more jobs commensurate with skills, training and interests. Working below minimum wage becomes illegal!
Businesses going bankrupt. Preferring less exiting new products. Preferring fewer job openings for youths fresh out of school. Preferring tough competition for remaining jobs. (Inexperienced youth will long remain sorely unqualified.) Preferring high unemployment.
Professor Walter Williams in his book, “Race and Economics,” quotes dramatic statistics within just one segment of the our population: “The annual unemployment rate for black teenagers has never been less than 20 percent in the past 50 years and has ranged as high as over 50 percent.”
Gunnar Unneland
Edmonds
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