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Discrimination and Disparities | The Aneesh Karve Series | Episode 1 (WiM200)
The "What is Money?" Show
Minimum Wage and Unemployment
The only way to eliminate what he calls institutional unemployment is to eliminate the minimum wage. What you are effectively doing is price fixing the market rat your not letting the market clear where the supply of labor meets the demand for labor. And that creates shortages, oroes, in this case, if it's a minimum wage, is going to create unemployment - which would be a labor surplus.
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