Minimum wage

http://www.mises.org/daily/6665/How-SpecialInterest-Groups-Benefit-from-Minimum-Wage-Laws

Good intentions, unintended consequences.

Fun fact: The minimum wage law in the US does not apply to the mentally challenged. Why? Because the bureaucrats understood (hopefully) that employers will be less likely to hire them. This shows that the lawmakers understood (hopefully) that the minimum wage law discriminates against the less-skilled workers. This is also one major reason why youth unemployment is so high. It is also the reason why there are more and more unpaid interns, because the company will run afoul of the law if they pay you some money.

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"Unions top that list. A higher minimum wage increases the demand for union workers by reducing competition from lower-skilled workers. For instance, if the minimum wage was $8 and the union wage was $40, employers give up 5 hours of low-skilled work for every union worker-hour utilized. But increasing the minimum to $10 means employers give up 4 hours of low-skilled work for every union worker hour."