What position do libertarians take on minimum wage laws?
Skilled, experienced workers make high wages because employers compete to hire them. Poorly educated, inexperienced young people can’t get work because minimum wage laws make them too expensive to hire as trainees. Repeal of the minimum wage would allow many young, minority and poor people to work. It must be asked, if the minimum wage is such a good idea, why not raise it to $200 an hour? Even the most die-hard minimum wage advocate can see there’s something wrong with that proposal. The only “fair” or “correct” wage is what an employer and employee voluntarily agree upon. We should repeal minimum wage now.
