One of the most popular terms uttered by unions, anti-poverty activists, liberals and hipsters alike is “living wage.” What exactly is a living wage and how does one come to this number? No one can really explain it as some groups say $15 per hour while others want $20 per hour. It’s usually an arbitrary number put forward like the minimum wage without any economic calculations or models.
Tom Woods, bestselling author of “The Politically Incorrect Guide to American History,” discusses the issue of a living wage in this latest compelling podcast.
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