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.
Motherhood Is a Discipline Worth Celebrating
Sometimes I forget how remarkable my mother is. She holds two degrees in different fields, built a successful professional career, and then, by choice, became a homeschool mom to me and my three siblings until we each left for college. Without her attention and dedication, I would not be who I am today. She patiently...