By Chris Rossini
The state of Missouri is showing us once again that supply and demand always wins in the end. Whenever government intrudes into private contracts, it distorts economic reality.
When prices rise (for anything) people buy less.
Wages are a price.
If government artificially raises that price, employers will buy less. It's very simple, yet very hard for many people to accept.
Daily Caller reports:
As rallies across the country have demanded an increase in the minimum wage to $15 per hour, one state is reducing its legal lowest rate. Missouri is rolling back its minimum wage from $10 to $7.70.
With a minimum wage of $10, all individuals that lack the skills to earn it are forced into unemployment, courtesy of the government.
Government can artificially raise wages, but it can't magically make people more valuable to employers. If you're only capable of earning $6 or $7/hr, no one is going to pay you $10/hr, no matter what the government says.
The real minimum wage is $0.
No one has to give anyone a job.
The minimum wage merely prices people out of getting a job. The higher it goes, the more people will be kicked into unemployment.
Minimum wage laws should be abolished completely. Government has no business sticking its nose in a voluntary contract between two individuals.
Missouri isn't ready to go all the way to freedom yet, but at least they're heading in the right direction.
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