The minimum wage is a sort of litmus test. And not only for economists. For social justice advocates, too.
Forget, for a moment, the economics of it. In essence, minimum wage legislation imposes compulsory unemployment on the poor, the unskilled, racial minorities, the young, the physically and even more so the mentally handicapped—the very people all men of good will most want to help. Before the advent of this law, the unemployment rate for white middle-aged people and black teens was just about the same. Now, the latter are unemployed at quadruple the rate of the former.
For the moment let’s just discuss the ethics and logic of the minimum wage. I now make you an offer: come work for me: you can wash my car, clean my house, etc. I’ll pay you $3 per hour. If I were serious about this offer, I could go to jail for making it. If you accepted it, you would also be breaking the law, but you would not get more than a slap on the wrist, since the judge would think I was exploiting you. Did I violate anyone’s rights? Did I violate your rights by making you this offer? Hardly.
As we should know from pure logic alone that an offer of employment such as I am now making to you, theoretically (I do not welcome being arrested), cannot help but improve your economic welfare. It is a proposal of an option you simply did not have before I made it. If you reject it, you are no worse off than you otherwise would have been. If you accept it, this job necessarily benefits you, at least ex...
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