The Minimum Wage: Washington’s Perennial Myth

While I was writing yesterday’s post about the latest increase in the federal minimum wage, I came across this policy analysis piece by the Cato Institute. Written in 1988 when the minimum wage was a mere $3.35, the article by Matthew Kibbe demonstrates that the arguments in favor of a minimum wage were no more valid twenty years ago than they are today.

It is an enlightening analysis of the economic effects of government-mandated wage increases, and Kibbe does a far better job at explaining the negative results of the minimum wage than I ever could.

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