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.
Martin Jones
Martin Jones is a financial analyst and investment manager, and a former Senior Managing Director in the investment division of US Bank.
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Listen to the Audio Mises Wire version of this article. In recent years a number of economic studies have concluded that small to moderate increases in the minimum wage do not necessarily cause a...
