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Stossel MECA 07- Unintended consequences of min wage

by Joe Calhoun

Length=4:34. Russ Roberts explains how setting minimum wages has unintended consequences. "The Prime Cut" is a restaurant and bar. The owner stopped hiring people when the state minimum wage increased. This video explains how minimum wage laws leaves many teens out of the job market. Roberts points out that less than 5 percent of workers are paid minimum wages. Why? Good workers make more because employers have to pay them more to reward and keep them for being productive. If not, the worker will go elsewhere.

Stossel MECA 07- Unintended consequences of min wage

Length=4:34. Minimum wage laws and their unintended consequences are discussed.

from Stossel (2011)
Creator: Fox Business News
Posted by Joe Calhoun
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