In response to 100% of U.S. Employment Growth Since 2000 Went to Immigrants, reader Mike wonders what effect a rise in minimum wage would have.
Mike Writes ...
Thanks for a very interesting post. I hope the mainstream media will pick up on this.
Here's a question for you: Do you think a rise in the minimum wage would bring more citizens into the workforce and and reduce the welfare rolls?
By the way, I am against laws that restrict the free will of consenting adults, employers and employees alike. But I am curious about the results of a substantial hike in the minimum wage.
Predicting the Results
It is not easy to predict the precise results. People on both sides of the debate cite studies that purportedly support their point of view.
Nonetheless we can say certain things, even if we do not know the final result.
A hike in the minimum wage would:
With so many possibilities, some of them conflicting, it is impossible to predict the precise results. Regardless, interference in the free market is not a good thing. Thus, the overall result of a hike in minimum wage must be negative, regardless of what minimum wage advocates suggest.
Mike "Mish" Shedlock
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for December 22nd, 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance: William's Edge Webinar for December 19th, 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for December 17th, 2014 | John Ransom