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To: fresc who wrote (42442)12/4/2005 9:48:07 AM
From: Oeconomicus  Read Replies (1) | Respond to of 90947
 
Who said we need a minimum wage? The only effect a minimum wage can possibly have is to reduce hiring and create unemployment by holding wages above equilibrium in the relevant market (unskilled labor). If it's below the equilibrium, it has no effect at all. Simple price floor problem. Or have you not gotten to twelfth grade econ yet?