Friday, January 09, 2015

Update on Minimum Wage

UPDATE 1/9/2015: As of 1 Jan. 2015, the famous "three dollar movie theater" in Sioux Falls now charges $3.50! Coincidence? Of course this would be an example of a price response rather than a reduction in employment but as we know from Bastiat's essay, "That Which Is Seen, and That Which Is Not Seen," employment somewhere/everywhere will be negatively effected by the price increase.

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