What a useless article. No real conclusion and no new information.
Raising the minimum wage CAN have negative effects. This is obvious. If you raise the minimum wage to $10,000 per hour, what happens? Hamburgers cost $1,000 each and nobody buys them. Restaurants become insolvent and they close. Bad outcome.
I believe no minimum wage CAN also have negative effects but those effects are less clear to me. Maybe workers get taken advantage of by companies? But is a minimum wage the best way to fix this? Would love to hear other thoughts on what specifically a minimum wage fixes compared to having no minimum wage.
Raising the minimum wage CAN have negative effects. This is obvious. If you raise the minimum wage to $10,000 per hour, what happens? Hamburgers cost $1,000 each and nobody buys them. Restaurants become insolvent and they close. Bad outcome.
I believe no minimum wage CAN also have negative effects but those effects are less clear to me. Maybe workers get taken advantage of by companies? But is a minimum wage the best way to fix this? Would love to hear other thoughts on what specifically a minimum wage fixes compared to having no minimum wage.