Minimum Wage: The Unseen Impacts

Regardless of your personal “political” inclinations about Fox News, this is salient and sage advice from Mike Rowe.

The minimum wage laws will destroy first-time job opportunities for young adults, where they learn the basics about what you need to do to be successful.

Learning a skill that is in demand and pays well circumvents any reason to intervene on a wage that is substandard. All this takes is a little bit of GoogleFu and initiative.  There are thousands of highly paid skilled labor jobs that are unfilled, and where you’d make many multiples of any “minimum” wage.

You don’t need to go to college, which has turned into an extremely expensive extended high school education, and where a significant amount of students are indebted with 3-4 years of salary before they graduate, in order to make high wages.

Mike’s other important point is that public schools don’t teach entrepreneurship.  This also makes sense, because it is the only industry actually sourced, owned and run by the government. Public education is incentivized to teach what the government desires.  Since the public education industry is a controlled monopoly, that means there’s no understanding of basic pricing along with supply and demand economics.  Our children are wonderfully educated in propaganda and how to be an obedient taxpayer for the leeches in the public sector, but they lack any entrepreneurial spirit and understanding of how to create value for individual wants and needs.

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