Except that by introducing a minimum wage the economy as a whole grows, because welfare costs and negative externalities decline and you have more optimal results due to a greater equality of negotiating wage levels. That's why increases in minimum wages tend actually can increase employment levels.
No, this isn't high-school level economics. But you should pick it up in second semester of uni.
no subject
No, this isn't high-school level economics. But you should pick it up in second semester of uni.