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If a minimum wage is set reasonably low it can be alright. It provides what could be described as a standard of comparison. The problem is that if you raise the minimum wage high enough, corporations may decide that it’s cheaper not to employ people or to employ fewer people, which means that it becomes difficult for new people to find a job. Certainly, you have younger people, for example, college students, who don’t have as much experience or knowledge and therefore have to price themselves lower in the market in order to be find employment. And so a minimum wage, in some ways helps the guys who are already employed, but hurts the guys who are looking for a job.
Author, Commentator and President of The King's College, Dinesh D'Souza
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