Bootney Lee Farnsworth
Diamond Member
That's ALMOST right.Because, some Labor can Command their wage.
Because the supply of people who can do certain jobs is limited. Thus, if an employer wants/needs a particular person to do a job, they must pay that person more than others competing for the services of that employee.
Flood the unskilled job market with a bunch of illegal Mexicans and what happens to that job market? Five workers are chasing one job.
Minimum wage is nothing more than a band-aid on another problem and it does a great job of hiding the problem.