Jacob55 Wrote:
Feb 15, 2013 12:20 AM
Let me explain the minimum wage. Most classical or austrian economists (for those of you who not familiar with economics, these are the sort of economists that are more fiscally conservative) think the minimum wage is entirely counterproductive, on the basis that if someone's output is worth less than the minimum wage, then an employer won't hire them. The catch here is that even the vast majority of Keynesian and Monaterist economists disagree with the minimum wage. That is, EVEN LIBERAL ECONOMISTS THINK THAT THE MINIMUM WAGE IS A BAD IDEA! But this is Washington we're talking about. If the government had an extra dollar for each time they ignored common sense, we could pay off the national debt.