Stephen Kinsella: Minimum wage: relax – the sky won’t fall in
Raising the minimum wage will have a relatively small effect on the labour market and employers’ bottom lines
If economics was a real science, there would be no discussion about the minimum wage. We would just know whether it was a good thing or a bad thing for society. No one goes along to a GP’s surgery today expecting to be prescribed sustained bloodletting for a headache. No one throws a ball from a second-storey window and expects it to fall at 100 miles per hour. Not so with the minimum wage.
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