Friday, May 2, 2014

Econ 101

Principle: If the price of something goes up, people tend to buy less of it.

Application: Raise the the minimum wage, employers will hire fewer workers. 

Illustration:  "Officials at colleges in Illinois are warning that if the state hikes its minimum wage, it will have to cut hours for and even fire some student workers."

townhall.com/tipsheet/danieldoherty/2014/05/01/illinois-colleges-if-the-minimum-wage-is-increased-well-fire-student-workers-n1832210

So who are we really helping by raising the minimum wage besides the politicians trying to prove they "care" and the few left employed with their extra $25-$30/month?

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