Video: The problem with the minimum wage
Do you want to hurt poor people? Then you should support raising the minimum wage.
Do you want teenagers, racial minorities and low-skilled workers to suffer? Raise the minimum wage.
Do you want to raise prices for society’s poorest members? Raise the minimum wage.
Sound harsh? Well, as this video from the Foundation for Economic Education explains, that’s exactly what the minimum wage does. Good intentions are not enough; in fact, laws based on good intentions are often the most destructive of all – for the very people they’re intended to help.
Read more: Why don’t we raise the minimum wage to $100 an hour?
Watch more: Milton Friedman explains how the minimum wage hurts the poor.