“If the minimum wage is, in short, raised from $3.35 to $4.55 an hour, the consequence is to disemploy, permanently, those who would have been hired at rates in between these two rates. Since the demand curve for any sort of labor (as for any factor of production) is set by the perceived marginal productivity of that labor, this means that the people who will be disemployed and devastated by this prohibition will be precisely the “marginal” (lowest wage) workers, e.g. blacks and teenagers, the very workers whom the advocates of the minimum wage are claiming to foster and protect.” - Murray Rothbard
-
roastbeefpierogies reblogged this from theantistatist
-
andrewhatefree reblogged this from voluntaryexchange
-
jippidyjack likes this
-
voteronpaul likes this
-
thelibertarianclarion reblogged this from voluntaryexchange
-
uckf likes this
-
becauseithinktoomuch reblogged this from iambinarymind
-
iambinarymind reblogged this from voluntaryexchange
-
iambinarymind likes this
-
voluntaryexchange reblogged this from theantistatist
-
michaelangerlo likes this
-
theantistatist posted this