It’s the new year so that obviously means that states are mandating unemployment and raising the cost of living.
When January 1 hits the calendar, there will be automatic minimum wage increases all over the country.
Here are places that will see a higher minimum wage in 2019:
– Alaska ($9.89)
– Arizona ($11.00)
– Arkansas ($9.25)
– California ($12.00)
– Colorado ($11.10)
– Delaware ($8.75)
– Florida ($8.46)
– Maine ($11.00)
– Massachussetts ($12.00)
– Michigan ($9.45)
– Minnesota ($9.86)
– Missouri ($8.60)
– Montana ($8.50)
– New Jersey ($8.85)
– New York ($11.10 to $15.00)
– Ohio ($8.55)
– Rhode Island ($10.50)
– South Dakota ($9.10)
– Vermont ($10.77)
– Washington ($12.00)
You can’t have a story on the minimum wage without a Murray Rothbard quote:
“If the minimum wage is, in short, raised from $3.35 to $4.55 an hour, the consequence is to disemploy, permanently, those who would have been hired at rates in between these two rates. Since the demand curve for any sort of labor (as for any factor of production) is set by the perceived marginal productivity of that labor, this means that the people who will be disemployed and devastated by this prohibition will be precisely the “marginal” (lowest wage) workers, e.g. blacks and teenagers, the very workers whom the advocates of the minimum wage are claiming to foster and protect.
The advocates of the minimum wage and its periodic boosting reply that all this is scare talk and that minimum wage rates do not and never have caused any unemployment. The proper riposte is to raise them one better; all right, if the minimum wage is such a wonderful anti-poverty measure, and can have no unemployment-raising effects, why are you such pikers? Why you are helping the working poor by such piddling amounts? Why stop at $4.55 an hour? Why not $10 an hour? $100? $1,000?
It is obvious that the minimum wage advocates do not pursue their own logic, because if they push it to such heights, virtually the entire labor force will be disemployed. In short, you can have as much unemployment as you want, simply by pushing the legally minimum wage high enough.”
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