Daily Adams

Minimum-wage legislation

“To answer your question: I would still oppose minimum-wage legislation even if some miraculous means were devised to ensure that governments never erred in identifying the presence and degree of monopsony power, and if governments – by some means even more miraculous – could be confined to imposing minimum wages only when and where monopsony power were found to exist.*….”

Via Even ‘Perfectly’ Designed Minimum-Wage Rates Would Be Harmful @ Cafe Hayek.

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