Why Minimum Wage Increases are Bad for American Workers

Minimum Wages bad for working people

The Minimum Wage Increase Shows Our Congress Does Not Understand Fundamental Economics

21 states raised the minimum wage on January 1st. Many are celebrating this a civil rights victory and a great step towards fixing inequality. They are wrong; it is a sad day for US workers.

The increase has the right intention: everyone would like to see hard working people make more money. I do not know how families get by on minimum wage and I surely hope every hard working American had more means to cover their basic needs, education and to enjoy life.

The problem is that this is not how a capitalist economy works. Economic prosperity does not come as a result of legislation. In a market economy, artificial adjustments can harm the economy and result counter-productive. Continue reading “Why Minimum Wage Increases are Bad for American Workers”