All minimum wage has done is make it illegal for millions of people to work.
Your labor isn't worth $20/hr?
Too bad for you, now you depend on the government to live.
When price fixing is mentioned in the context of food, everyone knows that's a bad idea, and yet somehow everyone thinks price fixing human labor is totally fine.
Correct. Price ceilings create shortages. Price floors create surpluses.
Minimum wage is a price floor on labor. This creates surplus labor, AKA unemployment.
And businesses are incentivized to automate out cheap labor, see McDonalds.
En Venezuela es más triste que 8$ el mes. Pero los precios de comida medicina servicios están elevados debido a la Hiperinflación de un 299% de inflación.
