The Negative Effects of Minimum Wage Laws
- Post 25 June 2012
- By Copy Editor
The federal government has imposed a minimum wage since 1938, and nearly all the states impose their own minimum wages. While the aim is to help workers, decades of economic research show that minimum wages usually end up harming workers and the broader economy.
A new study by Mark Wilson, former deputy assistant secretary of the U.S. Department of Labor, examines the empirical evidence, describes why most of the academic evidence points to negative effects from minimum wages, and discusses why some studies may produce seemingly positive results.
- "The Negative Effects of Minimum Wage Laws," by Mark Wilson
"Question all which is 'taught,' dig deeper, think clearly, respond profusely. Conformity is the antithesis of free thought and self-determination." -- Standard Pearls