The Job-Killing Impact of Minimum Wage Laws

Minimum wage laws seem like a good idea, but arbitrarily mandating a certain wage can have terrible consequences. This CF&P Foundation mini-documentary reveals that business are not charities, so if the minimum wage is set above the market level, this eliminates job opportunities -- particularly for the less fortunate members of society. Since employees and employers should have freedom of contract, the right minimum wage is zero. www.freedomandprosperity.org

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[MrGman543]

because company B is different from Company A. Company B has different subjective preferences than Company A so Company B may be willing to pay higher wages. what he said is 100% accurate and is why most companies pay over the minimum wage.

this has absolutely happened in the real world. Henry Ford gave wages 2x as high as his competition and had a 8 hour workday 5 days a week, that's why he got all the best workers. this happens all the time in the real world.

your very rude by the way.

[TheDreadedBeauty]

Employers compete with each other over workers, without which, they would have no way of getting work done, and no way to make money. If Company A offers $3, and Company B offers $4 for the same position, then Company B will end up with the work force it needs to continue. Company A will therefore have to raise wages to attract the workers they need. Simple.

[illlucetdreams83]

A jobless marriage with a kid gives a better life then a working mans.Now it actually pays off more to be jobless,,,,, this needs to fixed. I almost cant cant afford to work these days. But yet I am,,, Im going to go broke because I work at 40,,, someone explain that to me? I would love for people who hate all this, to explain this to me? I figure most of the hate post are from people with houses and decent cars and lives, and computer editing software. Let any business that cant afford fall

[Alan Bronfman]

The economy of 1968 was very good. Inflation from those good years started to kick in by the 70s. The Fed tried to stop inflation, but actually only stalled inflation and made things worse later. You can see the Fed's reaction from boom 60' to inflation 70' in minimum wage adj.

oregonstate DOT edu/instruct/anth484/minwage.h­­tml

[mindfulmammal1981]

it would fuel the economy. get the money circulating instead of sitting in these asshole's bank accounts.

[mindfulmammal1981]

lets not forget a lot of low wage employees have to work two or more jobs to get by. if employers paid at least enough to live on, workers would be able to give up their second or third job and actually be able to live their lives and be with their families. corporations need to realize that hoarding profits and sucking stockholder dick isn't helping this economy. if companies paid their employees more, the lower classes could spend more. companies in turn, would make more.

[Karl Skellenger]

and 1968 minimum wages adjusted for inflation would be over 10$ today. The economy was really bad then wasn't it?

[Karl Skellenger]

You call what is going on in Was?hington today Democracy it is a joke. No one there with any real power is speaking for the poor. Obama can't even pass infrastructure bills to benefit the middle-class. The Republicans have offered us nothing but rhetoric in support of slave wages while stripping away healthcare coverage in favor of Abrams Tanks. Really? This is what you support?

[Karl Skellenger]

Why do you think the economy is foundering today? Nobody is making any money. Except for the super rich whose standard of living continues to rise years after year, decade after decade. While the world is brainwashed with this dribble to keep them from standing up and fight for living wages. Health is not a privilege it is a right. At least it is when people finally wake up and see their noses crushed under the wheels of the shadow government and oligarchs who are the true rulers of this country

[Karl Skellenger]

Have you ever worked for minimum wage? I did all through the 80s with nho health care. It's called wage slavery. Union workers gave there lives to fight for living wages. There are 10s of millions of people out of work today. Minimum wage laws aren't directed toward employers who are paying more than that for skilled workers, it directed toward employers who would quickly pay Mexican or Chinese level wages if they could. See the 100,000s of waitress's and waiter who are paid a pittance!

[Filipe Amaral]

You didn't get the point. Raising minimum wages *above* the market value of the worker will mean you won't get shit either. You'll try to get your *first* job and you'll be required *experience* (durr) because the employer is forced to pay above your value. The employer will only hire experienced people.

Now Burger King is hiring 3 experienced burger flippers instead of 5 newbies - 2 less jobs available.