 Fallacious Arguments for the Minimum Wage
by William Dwyer
In this article, which I wrote some time ago but which I thought might be of interest to readers, I refute the claims of liberal economist Charles Prasch that the minimum wage law benefits our economy by increasing effective demand, promoting rapid technical change, and equalizing bargaining power in labor markets. As I explain in the article, these claims are entirely without merit, despite their appearance in a standard peer-reviewed economics journal. (Read more...)
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