DC increases to a living wage, up 50%…

A majority of professional economists surveyed in Britain, Germany, Canada, Switzerland, and the United States agree that minimum wage laws increase unemployment among low-skilled workers." Sowell, Basic Economics p.214

A majority of professional economists surveyed in Britain, Germany, Canada, Switzerland, and the United States agree that minimum wage laws increase unemployment among low-skilled workers.” Sowell, Basic Economics p.214

 

“A majority of professional economists surveyed in Britain, Germany, Canada, Switzerland, and the United States agree that minimum wage laws increase unemployment among low-skilled workers.” Sowell, Basic Economics: A Common Sense Guide to the Economy, 4th Edition p.214

The fact that low-skilled workers are punished at an increase to a living wage, makes you wonder what is motivating DC to take such a jump. The reality of the situation is sad, what motivates most politicians, the perception of doing good. Sadly the people who are the poorest are the ones that most feel the effects of these bad policies the most. Unskilled workers are kept out of the market place because their skills does not justify their wage. Sadly instead of getting a job at a lower wage and gaining more skill obtain a better job and experience, many of these workers are left out of the workforce and left unemployed.

Thomas Sowell is a nationally recognized and brilliant economist. He writes common sense explanations of why many government programs that are designed to help actually work against the poor. I greatly recommend his book  Basic Economics: A Common Sense Guide to the Economy, 4th Edition it is well written and easy to understand. The book will give you a great perspective on why many good intentions of government don't work. For more information on Sowell's view on this subject check out this link and an recent article by Sowell on the subject of minimum wage.

 

 

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