The minimum wage and jobless rates in Western Europe – Mark Perry

20 Nov

In Western Europe, the average jobless rate is twice as high in countries with a minimum wage vs. those with no minimum.

minwage

Advertisements

4 Responses to “The minimum wage and jobless rates in Western Europe – Mark Perry”

  1. pkashbhatt November 20, 2013 at 12:18 pm #

    There is overwhelming data that supports the idea that the minimum wage disproportionately hurts the young, unskilled workers. Unfortunately, trade unions will not let go of their stranglehold on politicians, who then dupe teenagers into thinking that they are doing them good. Fortunately, here in America many teens are now waking up in light of the libertarian movement and I am optimistic about the future generation.

    Like

  2. J. Palmer November 21, 2013 at 10:00 am #

    It is worth noting that each country on the “no minimum wage” list (save Italy), goes much further than a minimum wage for ensuring their people access to a decent standard of living. Those particular countries all utilize a form of unconditional basic income. This allows them to achieve such low unemployment numbers because those who cannot find work (or choose not to work) can safely remove themselves from the workforce and not be considered unemployed.

    If Mark Perry and the AEI want to argue for socialism and guaranteed basic incomes, so be it. But he should at least do so by mentioning the critical program behind the numbers.

    Like

    • thereformedmind November 21, 2013 at 11:04 am #

      The problem that you have is how often minimum wage studies in the U.S. alone show deleterious effects on the employment of low-skilled workers. There has to be a better way (negative income tax?)

      Like

      • pkashbhatt November 21, 2013 at 11:42 am #

        Absolutely, the negative income tax would be an excellent transition from the current disastrous welfare system to one that encourages people to actually work for a living. There are some good videos and books on Milton Friedman discussing this.

        Like

Comments are closed.

%d bloggers like this: