Minimum wage “do-gooders” aren’t

I have no doubt that many minimum-wage proponents believe that they selflessly serve low-skilled workers by lobbying on their behalf for higher minimum wages. But that’s all this sensation is: a feeling. Economics plainly shows that minimum wages harm many of its intended beneficiaries by pricing them out of jobs from which they would earn incomes today and get better work skills for tomorrow.

This reality doesn’t matter to the professors and pundits and “activists” who intrude themselves into the contractual arrangements of low-skilled workers and employers. The real object isn’t actually to help low-skilled workers; it’s to give minimum-wage proponents the emotional boost they crave by fancying themselves as helping others.

Making matters worse, these busybodies manage to blind most of their victims to the damages wrought by minimum wages. The high that the busybodies get from “helping” workers is thus better protected from being disturbed by dissenting voices rising from the crowd of those who the busybodies “help.” It’s noble to help others. But it’s cruel to do so as frivolously and as selfishly as it is done by minimum-wage proponents.

HT:  Mark Perry

Advertisements

One thought on “Minimum wage “do-gooders” aren’t

  1. Those who advocate a $15 minimum wage are ignoring one of the basic laws of economics: the law of demand. If all other factors remain equal, the higher the price of minimum wage labor, the less hourly units of labor a company will purchase from workers.

    I think the end-game of the $15 minimum wage movement is a guaranteed annual income. Raising the minimum wage to $15 will result in more unemployed and underemployed workers. This will create even more support for a guaranteed annual income. Unfortunately, such an expensive “benefit” will result in larger deficits and eventual economic collapse like Greece.

    I wrote a short essay (600 words) called “Why Raising the Minimum Wage Can Result in a Lower Unemployment Rate.” If you would like to read it, I am open to any feedback: https://christopherjohnlindsay.wordpress.com/2016/05/11/minimum-wage-unemployment/

    Liked by 1 person

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s