THE UNINTENDED CONSEQUENCES OF MINIMUM WAGE LAWS


The current federal minimum wage is $7.25 per hour. Several states have minimum wage laws that require even higher hourly wage rates. Advocates of the minimum wage, like Christian Dorsey from the Economic Policy Issue, would actually like it to be higher and argue that it’s a fairness issue for employees. Critics, like Russ Roberts, an economist from George Mason University, argue that the minimum wage leads to higher unemployment, especially among teens, and eliminates some jobs from ever being created. John Stossel interviews Warren Meyer of Recreation Resource Management and discusses his response to higher minimum wage rates.
SEGMENT 7 / MECA DVD

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