Somethings in life can be changed with the stroke of a pen. Others are made worse with laws that mean well but deny reality. The minimum wage bills we debated this week are an example of the later.
The disadvantaged are the first to lose jobs when wages are raised by edict instead of a response to market forces. More productive or skilled workers crowd out individuals who have their feet on the first rung of the economic ladder. Here’s a clip from the House debate.