Free markets work
Discussion
Exactly. The second picture (chart) tells the story.
It’s similar to minimum wage. An actual wage limit would create surplus unemployment as people with too little skill become completely unemployable.
Raises in minimum wage therefor follow raises in nominal wages. The politicians only dare raise the minimum once it no longer matters.
The child unemployment rate today is disgraceful, nearing 100% in some places.
Jokes aside, in a prosperous society, you wouldn't get children working, as the chart shows. The only way I could imagine a child working in a prosperous economy (having had experience in many countries and seeing the real world) is through exploitation. But it's not *economic* repression in such cases to shoot the adults doing to exploitation.