Quote Of The Day

“Minimum wage laws don’t just regulate those “evil corporations that exploit the labor of poor workers,” they regulate the worker’s legal ability to bargain for a job. Let’s say I have no skills yet and I’d like a job so I can make myself more marketable in the future (and earn more money later). I go to the local convenience store and say, “I’d like a job.” Minimum wage is $5.15/hour, but since I have no experience, I can’t do $5.15/hour worth of work — I can only generate $3.15/hour. I might as well go to the manager and ask him for $2.00/hour to do nothing. There’s no way that I am going to get the job given that scenario, but the experience is really important to me so I tell the manager, “I know I’m not that skilled yet, so I’ll take $3.15/hour instead, just so I can gain the experience.” The manager legally cannot hire me. I legally am not allowed to sell my labor for that cheap, even though that’s what it’s worth. Instead, I remain unemployed and do not gain the valuable experience that will help me land a better job in the future”. —Capital Freedom blog

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