Quote:
Originally Posted by Koga
Minimum wage hurts businesses, which inturns hurts workers.
When wages are artifically standarized, employees have to be laidoff.
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See. The issues is that for some reason they don't. Remember minimum wage laws are extremely common in the world. And have been implemented/raised time and time again.
I just did a quick search for
"unemployment before and after minimum wage"
And it came up with the following
http://daily.sightline.org/daily_sco...n-unemployment
http://64.233.169.104/search?q=cache...ient=firefox-a
http://www.epi.org/content.cfm/bp178
In short it seems intuitive that if you raise the wage you cut jobs. But that doesn't seem to be what actually happens (which is probably a big part of why minimum wages are so popular).
Oxymoron may have a point though. Still inflation often goes hand in hand with healthy economies. And there is a world of debate in regard to the causes, effects, and desireability of inflation.
Again any evidence on this from the hundreds of instances of implementation of a minimum wage? We'd be looking for a reasonably sharp incline in inflation after a minimum wage was added that doesn't match up with GDP growth or is otherwise atypical for the given economy.