Forcing the minimum wage above the real market wage causes more unemployment. Small businesses suffer from these mandates as do the least productive workers.
The recent declaration of the G7 sounds more like "we want to rule the world" than "we want peace." Other nations are tired of the West's phony Rules Based Order.
One of the standard doctrines of mainstream economics is that the assumptions of a model do not have to reflect reality. Austrian economics vociferously disagrees.
