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.