The media are
never better at displaying their economic illiteracy than when they
report on the minimum wage, writes John Stossel. They assume that
if politicians declare that workers should get a raise, they will
actually get it. But the idea that government can increase wages by
decree with only good consequences rests on a serious economic
fallacy: that employers set wages arbitrarily.
Reason Magazine
New at Reason: John Stossel on the Unseen Costs of Minimum Wage Laws
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