Any time I come across the issue of the minimum wage, I think that there is absolutely nothing more to say about it. It has all been said. The data is all there. Then I get struck again by the incredible degree of the political opportunism, cynicism and sleaze. Yes, I am talking about Kathleen Wynne.
No self-respecting economist would argue for the ‘benefits’ of the minimum wage. The idea has ZERO economic value, it is purely political. If you want to see just one set of arguments, you can read my posts on it (Minimum wage – Maximum confusion – A perfect storm – Maximum defense).
Tag Archives: minimum wage
Maximum defense
A few days after finishing my previous post, it just hit me that I left out the most important arguments. It is no accident that I did. I will explain at the end.
I will have this now as a separate post, but I will eventually work it into the previous one. Picture it inserted just before the last paragraph.
A perfect storm
When minimum wage meets maximum stupidity
You may know the name of Elizabeth (Pocahontas) Warren. What you may not know is that she is also the original author of the “You didn’t build that” argument that Obama made famous. The argument is revolting, but I think Senator Warren surpassed that performance in this Senate hearing about the minimum wage. It’s only five minutes, watch it, but here is the essence in a few sentences:
Maximum confusion
The Australian ‘myth’
In my previous post I put up a few thinking points for your consideration. Here, I want to show you some fascinating pieces I found researching the subject. I came across several mentions of the Australian experience.
Interestingly, if you google “Australian minimum wage myth” you will get both sides of the argument.
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Minimum wage
I don’t think there is much that has not yet been said about the minimum wage. All I will try to do here is a summary of the points illustrated with my very personal experiences.