Saw Bowman at the Adam Smith Institute blog asks two more questions about the minimum wage:
1. An excess of supply in labour is usually called unemployment; minimum wage supporters deny that minimum wage laws create unemployment. What other goods can have a price floor set above the market price without creating an excess of supply?
2. Why don't you want minimum wage to be £20/hr. ($33/hr.), or £100/hr. ($164.25), or £1,000/hr. ($1,642.50)? If wages can be set by government without any ill effects, why not solve poverty simply by raising the minimum wage?
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