Tuesday, December 10, 2013

Cafe Hayek — where orders emerge

Cafe Hayek — where orders emerge: "Prof. Holzer might defend his claim by saying that the negative employment effects are real yet “small.”  But many of the studies reviewed by the authors of the paper clearly find large negative effects on the job prospects of the very workers meant to be helped by minimum-wage legislation – especially high-school dropouts, teenagers, and black youths.  When these findings are combined with recognition of other ways that employers can also respond to mandated minimum wages – ways such reducing fringe benefits and demanding greater hourly efforts from workers – suggestions that minimum-wage legislation is a boon to low-skilled workers become too incredible to believe."

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