The belief that increasing the minimum wage is socially beneficial - TopicsExpress

The belief that increasing the minimum wage is socially beneficial is a delusion. In 2007, prior to the Great Recession, the black teen unemployment rate was about 29 percent. There is no doubt the increase in the federal minimum wage from $5.15 to $7.25 per hour contributed to the higher unemployment rate.” - James Dorn, Cato Institute This [the minimum wage] stopped being convincing to Unz, who made his fortune by designing software that allowed mortgages to be chopped up into securities, and whose IQ has clocked in at 214. So, according to Slate, discount the trained economist and appeal to the authority of a smart, but mistaken man.

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