Milton Friedman said, “There is absolutely no positive objective achieved by the minimum wage law.” Using clear and hard-hitting examples, this book shows ”the people who are hurt most by higher minimums are the most poverty stricken.” – A Thought-Provoking, Hot Topic – Great for ECON 101 –
Twenty-two chapters of new and established evidence covering millions unemployed, high-cost labor wasted, discrimination against the disadvantaged, minimum wage lifers, job lock into bad jobs, increased job search costs, increased sexual harassment, no first step on the job ladder, reduced job training, inaccurate redistribution, problems with Card Krueger and other irrelevant, misleading raise-the-wage arguments.
Milton Friedman concluded, “The rise in the legal minimum-wage rate is a monument to the power of superficial thinking.” Bad free-lunch raise-the-wage arguments are explained to an activist in this book.
