Cafe Hayek: Maximum Misunderstanding of the Minimum Wage

            by DON BOUDREAUX Here’s a letter to the Los Angeles Times: Michael Hiltzik’s “Debate over minimum wage reignites decades-old arguments” (June 29) is flawed by several half truths and leaps of illogic.  Here are two examples. First, no credible minimum-wage skeptic contends that raising that wage “would have a disastrous effect on the economy.”  That wage (fortunately!) is set so low that it affects only a small fraction of American workers.  And those relatively few affected workers, being unskilled, are in many cases easily replaced with machines.  Both the smallness of the portion of the workforce affected and the …

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