Thursday 21 February 2013

Minimum Wage Maximum Destruction

My essential problem with the concept of the minimum wage is the violence that is inherent within it. Two people freely agree to an exchange, one exchanges their time for the others money, all fair and civilised. A third group (the government) then decides that it has the right to regulate this exchange, for the good of the person selling their time, and uses the threat of violence to do so.

However it turns out the problems posed by the minimum wage are not just moral, as the video below explains, they're economic too.  Who would have thought using violence to achieve a noble goal would have destructive unintended consequences?

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