FoxBat,Nov 17 2004, 07:35 AM Wrote:Yep. Let's eliminate *all* labour and wage laws then, starting with minimum wage. Well except maybe child labor if you argue they aren't competent to choose.
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Agreed.
Minimum wage is inefficient in a high unemployment environment. Person X may get a 'decent' wage, but person Y and Z don't get employed at all.
Also, no-one is forced to work for an employer. If wages are inefficiently low then you can start your own business. Obviously you wont be able to start your own business in a market with high barriers to entry, but there are plenty of things you can do with very little capital.
However, I didn't say *all* labour and wage laws are bad. See my post to Occhi re false advertising etc.