[Video] A Visual on the Effects of the Minimum Wage

[AlexMerced]

 

[angelatc]

Price floors create surpluses.

 

[AlexMerced]

Price floors create surpluses.

yeah, that's basic point, I was just trying demonstrate the mechanism and steps by which that happens.

But yeah, that's a pretty straight to the point way of saying what I said, lol.

 

[talkingpointes]

Good video explaining in more a simple fashion to some a part economic thought that can be confusing. +rep

 

[TheBlackPeterSchiff]

Its funny because you can even see it in pro sports.

For example, the vet minimum Salary in the NFL is something like 900k. If your a vet, on the tale end of your career, and you just want to play for a team then that team has to be willing to fork over that 900k..even though said player might not be worth that. Even if they player was willing to play for say 100k, he couldn't do it because it is against the rules...so said player has to retire.