The American Enterprise Institute (AEI) published a very interesting chart on Wednesday evening which highlighted the unemployment rate and the youth jobless rate in European countries with and without the minimum wage. Unsurprisingly, the European countries with a minimum wage had high bouts of unemployment, while those nations without a minimum wage had the lowest.
For those anti-poverty activists and liberal politicians that want a higher minimum wage to help the impecunious, they should really be shown this chart. Indeed, abolishing the minimum wage isn’t the be all solution to boosting the labor market, but it’s certainly an important step.
Also, please do read these articles:
Higher minimum wage further hurts blacks in supposed economic recovery
Elizabeth Warren: Why isn’t the minimum wage at $22 per hour?
An extensive critique on Jesse Ventura calling for minimum wage hike
8 key arguments against raising the minimum wage to $15 per hour
Of course, this video from Milton Friedman is also rather important:
Leave a Comment