I’m not sure how you get from “paying teens the federal mimimum wage” to “Venezuela or Zimbabwe”…

I’m simply highlighting the potential problems with wage and price controls. If it goes too far, it’s possible for a healthy economy to slip into true dysfunction.

Look, everybody always thinks they’re undervalued. But if that were the case, find a job willing to pay you what you’re worth or start your own business. In any case, teen employment rates have been steadily declining for the past decade. Having a higher minimum wage will simply erode more legal opportunities for teenagers to make some money on the side.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.