Why minimum wage is a recipe for disaster.

in #fastlast year


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https://www.forbes.com/sites/antoniopequenoiv/2023/09/28/california-fast-food-workers-secure-20-minimum-wage-highest-in-the-us/

It sounds so simple, doesn't it? Just require higher pay and businesses will just pay people more. What choice do they have? It's the law!

But employers can't be made to pay higher wages to people they don't hire. So they'll hire fewer people and replace them with automation.

What's a higher wage good for if you can't get a job?

Say goodbye to entry level jobs for teens. Where they'll get work experience isn't the concern of the California government.

The big winner is union labor, which can say "If minimum wage is that high, then we obviously deserve even more."

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