ext_3181 ([identity profile] tcpip.livejournal.com) wrote in [community profile] politicartoons 2013-10-11 04:18 am (UTC)

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.

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