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Social activists now regard the minimum wage as another welfare program that can reduce the costs of programs like Medicaid and food stamps, and can reduce inequality. But the minimum wage is very poorly targeted for these purposes.
Original Article: "The High Cost of Using the Minimum Wage as a Form of Welfare"
This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.
Martin Jones is a financial analyst and investment manager, and a former Senior Managing Director in the investment division of US Bank.