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Tad DeHaven : How does a minimum wage requirement impact an economy? / Clear, concise arguments and answers from leading thinkers / Eristical.com
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Tad DeHaven

Anything that artificially raises the cost of hiring somebody helps foster unemployment, particularly amongst those with the least amount of skill, the more expendable. That's just Economics 101. If you raise the cost of labor , you've raised the cost of doing business, so businesses are going to hire fewer employees. Let's say you have a business which would be willing to hire an additional person at $6 per hour and there's somebody out there who's unemployed who would be happy to have that $6, because of the price control, that guy isn't getting a job and that job is not being offered. People are going to hire less and when they do hire they're going to take the best they can take for the money. They'll look at education, experience and things of that nature, and that tends to hurt the less educated, minorities, young folks.

Writer and Cato Institute Budget Analyst, Tad DeHaven