Sunday, July 08, 2007

More on Minimum Wage and Economic Illiteracy has a good article on the high costs of the pending minimum wage increase:

Irrespective of battlefield outcomes abroad, it seems the fight against economic illiteracy at home is a battle that is never won.

One wonders why a minimum wage increase must be staggered and delayed if it is the cure-all its proponents portray it to be. The standard rebuttal is employers need time to adjust. But then the need for adjustment implies that the policy is hardly all benefit and no cost.

The negative consequences of raising the minimum wage seldom make the news, but they are all too prevalent and outweigh the advantages achieved.

Continue reading here.


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