Minimum wage laws are against the law of supply and demand. Wages are based on the supply of and demand for labor. If the supply is low, wages will be higher and if the supply is high, the wages will be lower. If the demand is high, the wages will be high and if the [...]
:: Friday, March 19, 2010
We all use economic principles in our daily lives, even if we don’t realize it or know that someone has given them names. Like the laws of physics, ignoring them or passing laws or having good intentions doesn’t change them in any way. Actions always have consequenses.
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