Reminder: the Minimum Wage is Always Zero
As minimum wages go up, jobs vanish and wages often shrink because fewer hours are assigned to remaining workers. A new study reminds us of the immediate consequences of government wage intervention. After Republicans ended the slave system run by the Democratic donors, they sort of understood economic theory. That’s why southern Democratic segregationists invented the minimum wage. They wanted to price Africans out of the job market so they couldn’t take work at lower wages than those paid to white Democrats and their buddies in the Ku Klux Klan.