Ep. 1990 The Dreadful State of Economics, and How to Fix It
The Tom Woods Show
00:00
The Minimum Wage Doesn't Lead to Increases in Unemployment
Tom Foreman: A study has concluded that increases in the minimum wage do not necessarily lead to increases in unemployment. He says there are reasons to believe, based on the basics of economic theory, that if you increase the price of labor, less labor will be demanded. But he says politicians don't like economists because they say it's a magic wand and go away any more than for gravity or engineering.
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Transcript
