Record Number of young Americans jobless: Thanks to the minimum wage I reckon!

From Reuters:

http://bit.ly/5elNtu


Good thing that minimum wage rate is so high huh? As Taylor explained in an earlier post, ( http://bit.ly/5THyJe ) the minimum wage does more to harm low skilled workers/young workers than anything else. By artificially creating such a high barrier to entry, not only does the minimum wage increase unemployment, it prevents those same workers from gaining the experience and skills necessary to get a better job and in turn a higher wage.

Basically a workers wage should be, at the very minimum, equal to his or her marginal productivity. If the worker makes more than they "bring in" then the firm has no incentive to hire or retain those workers.

A conspiracy theorist would say that Big Brother imposes such a high minimum wage to keep low skilled workers unemployed and hopefully beholden to the party that gives out the most "free" stuff, ie the Donkeys. Whether its deliberate or accidentally brilliant, it seems to me that is exactly what's going on.

Down with Big Brother!

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