Trade Unions Set Their Minimum-Wage Trap
EspañolWhenever I read news related to the minimum wage, or any wages defined by political power instead of the market, I wonder: what drives authorities, trade unionists, and the usual do-gooders to be so unambitious?
People need food, shelter, clothing, and entertainment. But do they really believe that a mere mandate of US$15 per hour can provide all of these essentials? Why not demand a salary of $20, $50, or even $1,000 per hour?