Milton Friedman's remarks on minimum wage
Milton Friedman blames the Minimum Wage laws that even increases discrimination and unemployment rate and thus, they are ineffective.
An unknown guy explains why increasing minimum wage is wrong
The prices of the things will increase in order to pay for employees (inflation). Then, it's gonna stay the same. Also, as more people lose their jobs, (unemployment increases) people cannot buy things much.
WHO IS RIGHT??
For this question, I think the former is right. As seen in the documentary 30days, people simply do not know how poor people live and approach the matter theoratically. An inflation has increased the prices of goods significantly. Yet, the minimum wage is staying at the same level for 10years. THERE MUST BE A CHANGE.
