Do we really need a minimum wage?

posted by
May 24, 2011
Ludwig von Mises Institute
by Charlie Virgo  
Posted in Commentary

"The most common concern I hear when discussing the possibility of eliminating the minimum wage is that companies will be able to get together and gang up on their employees, forcing them to accept wages of nearly nothing. This sounds plausible, but it leaves out two key points: employees are not 'forced' to work at a specific place, and competition between businesses will automatically lead to different wages (not just between companies, but within the company as well)." (05/24/11)  

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