A state-mandated minimum wage causes unemployment. It’s just a basic principle of economics. In fact, the minimum wage is why there is a chronic unemployment rate among African American teenagers of around 30-40 percent. If the minimum wage is repealed, that unemployment rate drops close to 0 percent.

Employers aim to make a profit. When they hire workers, they subjectively place a value on their labor. If they believe that the labor from the worker is more valuable … Continue reading A Basic Principle About the Minimum Wage