Minimum Wage Laws are a Masterful Delusion

Government does not create wealth -- it merely taxes and consumes it. It may create 'government jobs' but it cannot create real wealth. Governments specialize in bureaucracy and welfare. Real wealth is created by real jobs profitably producing things of value in the marketplace. A real job is possible when an employer decides that their investment in a 'worker' is worth their risk, but alas, constant government interference greatly affects how risky this proposition is for them. Market wage levels are not determined by emotions, greed or pity; the wage offered by an employer to a prospective employee is the result of certain constraints: a. The skill-set of the employee and how it fits with the job requirements b. The experience and record of reliability of the prospective employee c. The actual value that the employee can potentially produce in the job d. The quality and quantity of prospects competing for the same job e. The wage level the prospective employee is willing to...(Read Full Article)

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