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On Apr 26, 11:11 pm, "Ed Huntress" wrote:


All right. But economic effects of small policy changes, like raising the
minimum wage by 8% or 10%, generally are weak, either way.


--
Ed Huntress

I agree. The minimum wage law could be eliminated with little
effect.

Well, it has little effect on the overall economy. It has somewhat more
effect on some people to whom it applies.


I think the minimum wage law is something the politicians dreamed up
to say they are doing something to help the poor. The latest idea is
to make unpaid internships illegal. There goes Monica Lewinsky.

Wikipedia tells us that the first minimum wage law was enacted in New
Zealand, in the late 19th century. In the US, it was enacted to deal with
some of the abuses of sweatshops.

It's not something that I've spent much time looking into, but I think its
effect today doesn't amount to much, except, again, for the relatively small
group of people who are living on it.

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Ed Huntress