My Cato colleague, Mark Calabria, recently explained how the minimum wage destroys jobs, and I’ve written on several occasions why government-mandated wages can create unemployment by making it unprofitable to hire people with low work skills and/or poor work histories. And I’ve attacked Republicans for going along with these job-killing policies, and also pointed out the racist impact of such intervention.
But this cartoon may be a more effective argument for getting government out of the business of interfering with market forces. It’s simple, direct, and gets the point across. I’m not sure that always happens with my writing.
My former intern, Orphe Divougny, also did a very good job in explaining why politicians shouldn’t interfere with the right of workers and employers to enter into labor contracts.
There is also a reason why Wal-Mart and other large retailers are always lobbying in support of a higher minimum wage. It may seem counter-intuitive, but economies of scale allow these larger companies to absorb the costs, while their smaller competitors cannot, thus increasing market share. Crony capitalism at work again.
[...] Funny…but Sad…Look at How the Minimum Wage Destroys Opportunity Posted on July 2, 2011 by goldcountrypatriots My Cato colleague, Mark Calabria, recently explained how the minimum wage destroys jobs, and I’ve written on several occasions why government-mandated wages can create unemployment by making it unprofitable to hire people with low work skills and/or poor work histories. And I’ve attacked Republicans for going along with these job-killing policies, and also pointed out the racist impact of such intervention. Read more and watch the video… [...]
Wow! Great post! And great comment by Mr. Adam Feller!
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[...] clever Payne cartoons can be seen here, here, here, here, and [...]
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[...] Here’s a very good cartoon showing the impact of raising the minimum [...]
[...] Payne cartoon in this post, you can enjoy some of his other work here, here, here, here, here, here, here, [...]
[...] Payne cartoon in this post, you can enjoy some of his other work here, here, here, here, here, here, here, [...]
[...] can enjoy some of Payne’s best cartoons here, here, here, here, here, here, here, here, here, and here. My favorite is the one with Robin [...]
[...] can enjoy some of Payne’s best cartoons here, here, here, here, here, here, here, here, here, and here. My favorite is the one with Robin [...]
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[...] Here’s a very good cartoon showing the impact of raising the minimum [...]