I left this message for President-Elect Obama:
The minimum wage helps a lot of people, but it causes permanent unemployment for anyone whose labor is not worth the minimum wage. Can it be moral to help the less-well-off by hurting the least-well-off? Can it be moral to give money to some by taking away the jobs of others? I cannot believe that Obama would think it moral.
Please tell him to delegislate the minimum wage. Very few people earn it anyway, and it will create jobs for those who have none.
Somehow, I doubt that Obama is moral enough to do that.
posted at: 01:32 | path: /economics | permanent link to this entry