Tag Archive: minimum wage

Jul 28

New study shows recent minimum-wage hikes have caused the loss of 700,000 jobs

More than a hundred peer-reviewed economic studies have established that raising (or imposing) a minimum wage is correlated with increased unemployment. The only studies purporting to show otherwise are those that occurred in unusual economic circumstances (such as in a “boom-town” situation where wages were naturally rising rapidly anyway). The strong correlation between minimum-wage laws …

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Mar 17

BRITISH MINIMUM WAGE ACT OF 1773 DROVE THE BRITISH TEXTILE INDUSTRY OVERSEAS AND DROVE COUNTLESS BRITS INTO POVERTY

Herbert Spencer, one of the founders of sociology, pointed out in 1850 that the British Minimum Wage Act of 1773—passed due to pressure from English weavers who believed the law would help lift textile workers out of poverty—decimated the British textile industry only 20 years later. By 1793, “some four thousand looms would be brought …

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