Liberate RVA

Minimum Wage and Workers

By Liberate RVA Updates On Tuesday, March 25th, 2014 · Add Comment

“In truth, there is only one way to regard a minimum wage law: it is compulsory unemployment, period. The law says: it is illegal, and therefore criminal, for anyone to hire anyone else below the level of X dollars an hour. This means, plainly and simply, that a large number of free and voluntary wage contracts are now outlawed and hence that there will be a large amount of unemployment. Remember that the minimum wage law provides no jobs; it only outlaws them; and outlawed jobs are the inevitable result.”

-Murray Rothbard in Making Economic Sense.

The idea that the minimum wage is harmful to many workers was hardly controversial up until about the 1990s. The reality is, though, that the minimum wage is not only disastrous for the employment of low skilled or inexperienced workers, but also a terribly inefficient means of solving the problems it is intended to [...]

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Minimum Wage and Workers

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