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