The Minimum Wage Should Be Eliminated Essays -- Minimum Wage, A Bad Po

The minimum wage is something that F.D.R. put in place a long time ago during the Great Depression. I dont think it worked then. It didnt solve any problems then and it hasnt solved any problems in 50 years.-- John RaeseIn the United States, the federal government maintains a national minimum wage to protect the purchasing spot of ordinary workers. It seems good that the government protects your purchasing power by adjusting the minimum wage with respect to the inflation rate. Its economic side effects are so obvious that make this policy a poisonous one because it creates more unemployment, makes employers cut fringe benefits and is inefficient.The first argument is that minimum wage creates more unemployment. From the point of view of basic supply and demand, workers and employers adjust the measuring of labor supplied according to wages until the quantity of labor demanded equals to the quantity of labor supplied, reaching an equilibrium wage. However, the policy ignores the ma rket price by setting a price floor higher than the equilibrium wage. A minimum wage is a...