re: #959 iossarian

Perhaps I made my point incorrectly. The minimum wage produces unemployment in certain groups, but I believe it increases unemployment rates over all because less workers will be employed if operation costs are higher. This is simple economics it seems to me. I have less money, so I can higher less people.

This is a terrible example. You’re assuming no operating cost. No incentive to invest. You have a caricature in your mind of a business owner who keeps all the profits to himself and gobbles it up leaving none for anyone else. In the real word, a priori, and empirically, this example is just too far fetched to be relevant, but yes, you are correct that if the workers are able to produce more than 1 bushel a day and the minimum rises to 2 bushels, no one will be fired. But that doesn’t address the problem I stated, and that problem is that if any of those workers is unable to create at least 2 bushels, he’ll be fired, and in a worse of position than before the minimum wage was institued.