04-14-2005, 07:53 AM
Ok, fine. Let's look at real life.
![[Image: urdep.png]](http://www.econreview.com/events/images/urdep.png)
Notice in 1938, the same year that many of the laws, including minimum wage was being put into place, unemployment skyrocketed, when the market was already heading for a self-correction.
And inflation, simply put, is obvious. There's no way around it. When you increase the flow of currency by setting a minimum wage, the currency will decrease in worth and prices will rise to compensate. Now, of course, you could heighten interest rates for businesses, but this would increase unemployment.
And plenty of people I know work 10 hours. One worked 10 hours to save up for college, so he didn't have to live off the stae. He made wise investments too, and when he cashed in his earnings the state charged him for it, 20% I believe, even though he never once touched his money. It went to the market to his tuition. Then he even had to take out a loan.
Notice in 1938, the same year that many of the laws, including minimum wage was being put into place, unemployment skyrocketed, when the market was already heading for a self-correction.
And inflation, simply put, is obvious. There's no way around it. When you increase the flow of currency by setting a minimum wage, the currency will decrease in worth and prices will rise to compensate. Now, of course, you could heighten interest rates for businesses, but this would increase unemployment.
And plenty of people I know work 10 hours. One worked 10 hours to save up for college, so he didn't have to live off the stae. He made wise investments too, and when he cashed in his earnings the state charged him for it, 20% I believe, even though he never once touched his money. It went to the market to his tuition. Then he even had to take out a loan.