If you can’t understand the minimum wage, you should be denied political power and treated like a cute but dangerous child when it comes to economic matters.
Whether a person can understanding the minimum wage should be a fundamental test. Can they distinguish between short term and long term? Can they distinguish between how the world is and how they want it to be?
The explanations by Hazlitt, Friedman and many others are so crystal clear.
Surprise: Bay Area Restaurants Disappear After Minimum Wage Hike