Mises: The Minimum Wage Forces Low-Skill Workers to Compete with Higher-Skill Workers

[FrankRep]

The Minimum Wage Forces Low-Skill Workers to Compete with Higher-Skill Workers


George Reisman, Ph.D. | Mises.org
January 04, 2014


The efforts underway by the Service Employees International Union, and its political and media allies, to raise the minimum wage from $7.25 to $15 per hour would, if successful, cause major unemployment among low-skilled workers, who are the supposed beneficiaries of those efforts.
...

Full Article:
http://www.mises.org/daily/6630/The...l-Workers-to-Compete-with-HigherSkill-Workers



Related:

Ron Paul: Minimum Wage Policies Hurt Low-Wage Workers


http://www.youtube.com/watch?v=xNp9ufuRykg

 

[gwax23]

Wait for Parocks to comment on this

"But guuuuuyyyys McDonalds would pay everyone zerrooooo witout no minimoom wager. its so simple look at this exuation i mad 2+2 = fish...Seee its MATH"

 

[FrankRep]

Does a Minimum Wage Reduce Poverty?


Per Bylund | Mises.org
January 5th, 2014


In a long and seemingly technical blog post on the Washington Post “wonkblog,” Roosevelt Institute fellow Mike Konczal suggests that raising the minimum wage will reduce poverty. He primarily relies on one meta study (Dube 2013, unpublished) to show that economists “do agree” “that raising the minimum wage would reduce poverty.”

Quickly reading through the article, it is obvious that this is the kind of perception Konczal wants the reader to get. Well, not so fast. The blog post exclusively refers to aggregates of different kinds, which obscures the analysis. And, if one reads more closely, Konczal includes several limitations and constraints to his thesis, and in fact agrees with the age-old truth that raising the minimum wage would kill off jobs. Minimum wage mandates above the present market wage of course has only one direct effect: jobs below that level are outlawed. Hence, any person on the job market with a productivity level (whatever the reason) below the minimum wage mandate will not be able to find a job.
...


Full Article:
http://bastiat.mises.org/2014/01/does-minimum-wage-reduce-poverty/

 

[PRB]

are there any statistics to back this up? Something not from Cato, Mises, AEI, CEI, sources which can't be dismissed by leftists as biased?

 

[FrankRep]

are there any statistics to back this up? Something not from Cato, Mises, AEI, CEI, sources which can't be dismissed by leftists as biased?

I'm sure leftists would view anything that contradicts them as being bias.

Some articles I've found.


Why Raising The Minimum Wage Kills Jobs
http://www.forbes.com/sites/williamdunkelberg/2012/12/31/why-raising-the-minimum-wage-kills-jobs/

Proof the Minimum Wage is Causing Unemployment
http://www.economicpolicyjournal.com/2011/04/proof-minimum-wage-is-causing.html

Obama's New Minimum Wage Will Eliminate At Least 467,000 Jobs
http://www.marketoracle.co.uk/Article39030.html

Obama’s minimum wage proposal would eliminate jobs
http://www.suntimesnews.com/stegen/news/2013/02-February/0213obama.htm

 

[VoluntaryAmerican]

TY for sharing.