A minimum wage is a government-mandated wage control that takes negotiating power away from workers and employers. There is a rare near consensus among economists that binding price controls distort economic activity, but politics often gets in the way of seeing the fallacy of a wage control. Setting a minimum wage floor above a market wage results in unemployment, especially for low-skilled workers. It also slows future job creation and pushes unemployed workers who would take a wage at less than a minimum wage into long periods of unemployment and dependency on family or taxpayers.
We’re Optimizing Our Way Out Of Love
Recently, I was out with friends and I met a guy. Nothing serious, just a little flirting. He was cute, I’m single, and as I said goodbye, he handed me his phone with a new contact open. I typed in my number. Fifteen minutes later, while I was driving home, he texted. Something vague and...