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There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved.
Ludwig von Mises
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How the minimum wage harms the poor
This entry was posted in Uncategorized and tagged economics, libertarianism, minimum wage. Bookmark the permalink.
This video only explores the relationship between an employer and an employee. Unionization, which i support, would make the equation more equal. What the video ignores is how society, that is you and I and other taxpayers, pay a price in taxes and diminished well-being for all workers who work for less than a living wage. They and their families are less able to be constructive members of society. And that is the result of allowing employers to pay competitively low wages.