As you may know, I am no fan of minimum wage legislation. I have, over the years, leveraged, chapter and verse, the work of several of today’s (and yesterday’s) top economists who—as opposed to those pushing to heighten the barrier between young and unskilled individuals and gainful employment—understand the cruel nature of such legislation.
Here’s an excerpt from today’s blog post by oft-here-quoted economist Don Boudreaux. He, yet again, makes perfect sense on the topic:
Here’s a project for all unemployed young people – say, ages 18 through 21 – in America today. Go to a nearby supermarket or restaurant or lawn-care company or pet store and ask for a job at the minimum wage. If you are denied, offer to work for $4.00 per hour. The owner or manager will almost surely decline, saying that it’s against the law.
“Would you like to hire me at $4.00?” you ask.
“Well yes I would” is the answer you’re likely to get in reply.
“So, hire me at that wage. I’m an adult, I’m sober, and I have no mental issues. I’m willing to work for $4.00 per hour.”
“You don’t get it, kid. I can’t hire you at that wage. I’ll get fined, or worse. Go away.”
“Ok, I’ll leave. But no one – including you – will hire me at $7.25 per hour. What am I supposed to do?”
“Look kid. That’s your problem. I’m sorry. I don’t make the laws, but I gotta follow them. Go away now.”