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"In what has become a running joke amongst those skeptical of the claim that minimum wage increases have no effect on unemployment, a recent report by the Employment Policies Institute showed that 174 of the 184 co-sponsors of a bill to raise the federal minimum wage to $15 an hour hired unpaid interns."
"In a review of over 100 studies, economists David Neumark and William Wascher found that,A sizable majority of the studies surveyed ... give a relatively consistent (although not always statistically significant) indication of negative employment effects of minimum wages. In addition, among the papers we view as providing the most credible evidence, almost all point to negative employment effects, both for the United States as well as for many other countries." http://www.nber.org/papers/w12663.pdf
"Yes, minimum wages still do increase unemployment."
https://mises.org/blog/seattles-minimum-wage-supporters-ignore-facts
(Score: 1) by khallow on Monday July 31 2017, @03:49AM (1 child)
You won't trust the market to employ people, but you will trust it to fill a void when you've ruthlessly stamped out the last employer who tried to fill that void? And you think that the market is somehow "free" in that situation?
(Score: 2) by unauthorized on Monday July 31 2017, @06:31AM
Note that I'm not saying that these businesses are going to be forced to fail, I'm merely saying that they can move if they don't agree with the whole "not practicing abusive employment terms" thing.
And "ruthlessly stamped out"? Universal employment terms apply to everyone, and there will still be the need for those services. If some businesses decide to pull out, others can move in and eat their bread so to speak.