The Cruelest Law of All
Monty Pelerin / EconomicNoise.com
Minimum wage is possibly the cruelest law ever. It makes it illegal for people with limited skills to be employed at a wage lower than a legally mandated level.
Is the rate set too high? For most with skills, the law is irrelevant. However, for those who passed through dysfunctional government schools and learned little, it is an viciously cruel law because it condemns them to a life of poverty. It makes it illegal for them to get a job. It does not protect low-income workers, rather it forces them out of the workplace. No employer is going to pay somebody $10 per hour if he is only worth $5. If the value of the worker does not exceed what is mandated by law, that person is legally unemployable.
Even if person knows his limitations and offers to work for an employer at less than the minimum wage, the employer cannot hire him. The employer cannot even allow the “give me a chance to prove myself” option to kids willing to show initiative.
The more expensive it is to higher someone, the fewer people will be hired. Kids unprepared to provide value to employers above the minimum wage cannot be employed. No matter their motivation, they are plain out of luck.
Education is a life-long process. Those cheated by inferior schools or an unwillingness to learn still have an opportunity to learn, acquire skills and progress in life. But to do so, they need a job — any job, at whatever wage an employer is willing to pay for their services. The minimum wage prevents this process of learning from even beginning. Instead these individuals are condemned to hang out on a street corner where most things learned are unproductive, at least in a legal and societal sense.
continue at Economic Noise:
http://www.economicnoise.com/2012/08/06/the-cruelest-law-of-all/
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Whistler Blowers, Insiders
Sure Buddy, let’s lower it to five dollars an hour! Then we can work 8 hrs. pay taxes on $40,, leaving us with just enough money to eat, and be homeless. What an IDIOT. If you can’t pay AT LEAST $10hr for workers, you don’t need to be here, capitalist exploiter labor thiefs, with their armadas of illegal sneaks have destroyed our wages ENOUGH! YOU take a paycut!