Category Archives: Minimum wage

The Law of Demand Applies to Labor

A foundation of economics is the law of demand: at higher prices, less of a good or service will be purchased than at lower. While most people comfortably accept the law of demand for most goods and services, many resist accepting it for low-skilled labor. They don’t want to believe that minimum wage laws, by forcingContinue Reading

Minimum Wage Laws Are Immoral, Part II

Two weeks ago I posted on Learn Liberty’s blog this open letter rejoinder to my friend Adam, who strongly objected to a claim I had made in a Facebook post that minimum wage laws are immoral. Adam responded to that rejoinder, and I replied again in turn with this second open letter. A slice: Adam: I accept the disemployment, suchContinue Reading

Minimum Wage Laws Are Immoral

Here is an open letter to a respected friend with whom I have strong differences about minimum wage laws. It was recently published at the Learn Liberty blog. A slice: Your indignation at allowing companies to pay (and workers to accept) wages below “a living wage” seems based in an assumption that all employers canContinue Reading

Abolish the Minimum Wage?

For my students and former students especially, here is a link to a PBS debate on abolishing the minimum wage. In favor are my friend and colleague Jim Dorn, and Russ Roberts, whose work I often assign and always admire. Opposed are Jared Bernstein and Karen Kornbluh. I have not watched the debate yet, but I’m eagerContinue Reading

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