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Free Market Economics
Reduces Economic Growth
With any significant minimum wage increase, unemployment rates increase.
Working Is Voluntary
The minimum wage is a restriction on what the worker can sell his/her labor for.
It makes low-skilled workers permanently unemployed
If you can't produce more value than the minimum wage requires your employer to pay, you are unemployable.
A Fundamental Rule of Economics
When you subsidize something, you get more of it and vice versa.
There's a 37% poverty rate in single parent homes compared to a 7% rate in 2 parent homes.
Provides incentive to stay in lower class
The Welfare System
In Hawaii, a family of three would need to earn $61,000 a year to match the benefits the government is giving them.
Without government regulation, there are no contemporary corporations
If the government wasn't regulating the economy, corporations would gain nothing from corrupt deals. The only way they could make money would be through providing marketable goods and services.
Questions, Comments, or Challenges
The Free Market
Caleb Squires | May 24, 2016