Thursday, January 11, 2007

Raising the Minimum Wage???

The House recently passed a bill that will raise the minimum wage from $5.15 to $7.25, proving once again that at least 315 representatives aggregated knowledge of economics barely surpasses that of a dead parrot. The ridiculous notion that a minimum wage actually helps individuals, much less an entire economy, has been documented and debunked so thoroughly by free-market economists that there is no point whatsoever in trying to rehash all of it, but here are some links for your edification...

Minimum wage hike passes House - Homeland Stupidity

Cato Daily Dispatch: House Poised to Raise Minimum Wage

Making Economic Sense

Mythology of the Minimum Wage - Mises Institute

Repeal the Minimum Wage - Mises Institute