If increasing cost of carbon decreases its use, does increasing cost of labor decrease employment? (#minimumWage)

Via Don Boudreaux at Cafe HayekCoyote Blog’s Warren Meyer offers this useful Venn diagram:

See also:

Mark Perry:

Does thinking realistically about the proposed minimum wage increase to $10.10 per hour alternatively as a $5,700 annual “unskilled labor tax” make minimum wage proponents less enthusiastic about that increase and its inevitable adverse effects on unskilled workers?

More: Instead of $10.10 per hour, think of the proposed minimum wage as a $5,700 annual tax per full-time unskilled worker.

Also, from Mark Perry:

Mark Perry, professor at the University of Michigan and scholar at the American Enterprise Institute, explains that minimum wage hikes ultimately affect the number of hours worked, not the number of workers employed by a firm. (more)

And the chapter on minimum wage laws in Henry Hazlitt’s Economics in One Lesson. And finally, this video from the Center for Freedom and Prosperity:




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