April 18, 2015
The Looming Minimum Wage Hike: Stuck on Stupid
We might be inclined to laugh off the national demonstrations calling for a $15/hr minimum wage for burger-flippers, as the suggestion should be received as utterly ridiculous in any intelligent economic debate. But the left isn’t laughing. They’re undoubtedly ecstatic at the media legs such demonstrations have maintained against all odds, and they can’t wait to roll out these downtrodden fast-food workers as a reason to increase the federal minimum wage, victims as they are of an evil system of economic organization that dares assign a value to labor performed in the context of supply and demand.
That evil is, of course, a free market.
One might imagine that defending the “unfree” alternative to a free market would be an untenable position. And it certainly is, if the economic realities that govern marketplaces and history are any consideration. But what social engineers and statists lack in a cogent argument...(Read Full Article)