Generation Sloth

On July 24 this year, the government raised the minimum wage to $7.25, which is another way of saying that unemployment is mandatory for anyone who is otherwise willing to work for less. You have no freedom to negotiate or lower the price for your service. You are either already valuable at this rate or you are out of the game.

I haven’t read the article.

To me, the greatest dangers, which are being realized right now, in minimum wage laws, are that kids no longer are able to find employment. Especially that most importment type of employment, part time work while in high school.

Adults, at least adult aged humans, are taking these jobs because they are mandated to earn $x.xx per hour, and they are so programmed to taking the path of least resistance in their lives.

Now, we have a society of untrained, and un-knowledgeable (in the way the real world operates) kids, with too much time on their hands and no pocket money to idle it away with. What are they to do? Get in trouble, of course. Their parents aren’t able to give them money, they’re at those minimum wage jobs.

We now, also, have a society of very low earners that need Government assistance for everything from medical (including aborting their child’s “mistakes”) to rent and, even, putting food on the table for the family can ill afford to support.

Full circle. That’s what’s come of the minimum wage law.

On July 24 this year, the government raised the minimum wage to $7.25, which is another way of saying that unemployment is mandatory for anyone who is otherwise willing to work for less.

I did not bother with the article as the pull quote here is completely incorrect. I am surprised that Mises would have something this wrong under their name.

1. A so called minimum wage of $7.25 means that anyone who can not produce $7.25 plus the hourly cost of other labor costs will be unemployed EVEN IF they are willing to work for less.

2. One might be willing to work for less than $7.25 an hour and still find a job if they are productive to offset the costs of employing them.

3. As an aside, the so called minium wage is "so called" because the real minimum wage is zero and many firms out their are willing to pay each of us zero.

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.