Minimum Wage Hike Kills Jobs
The New York Times, recognized around the planet as the bible of the progressive left, actually got it right back in 1987 when it editorialized that the perfect minimum wage was $0.00–zero! The Times opined that “the minimum wage is an idea whose time has passed.” Says David Henderson, editor of Concise Encyclopedia of Economics, “So economists and the liberal paper were on the same page. Why? Because they understood that a minimum wage does not guarantee jobs. It guarantees only that those who get jobs will be paid at least that minimum.” Henderson explains in this edition of Prager University that hiking the minimum wage might well lead to unintended consequences.
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