{"id":669,"date":"2011-05-24T07:00:25","date_gmt":"2011-05-24T12:00:25","guid":{"rendered":"http:\/\/www.patheos.com\/blogs\/faithandfinance\/?p=669"},"modified":"2011-05-24T07:00:25","modified_gmt":"2011-05-24T12:00:25","slug":"why-the-minimum-wage-is-harmful","status":"publish","type":"post","link":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/","title":{"rendered":"Why The Minimum Wage Is Harmful"},"content":{"rendered":"\n<\/head>

As with many laws imposed on the economy, the outcomes and incentives created can differ from the original hopes and intentions of those creating them.\u00a0 Such is the case with the minimum wage.\u00a0 The harmful effects of the minimum wage laws are often masked by the claims that minimum wages help the worker and create a fair wage. <\/a> The reality is that a minimum wage is actually harmful to workers who are younger, less educated, and in a minority ethnic group.<\/p>\n

History of The Minimum Wage<\/h2>\n

By definition, a minimum wage is the lowest hourly, daily, or monthly wage that an employer may legally pay their workers.\u00a0 The laws enforcing the minimum wage include the Davis-Bacon Act of 1931<\/a>, the National Industrial Recovery Act of 1933<\/a>, and the Fair Labor Standards Act of 1938<\/a>.<\/p>\n

The first country to institute a minimum wage was New Zealand in 1894, which established a minimum wage partly to control the use of sweatshops in factories.<\/p>\n

Harmful Effects of Minimum Wage<\/h2>\n

While the original intent of minimum wages may have been noble, the effects are actually quite negative.\u00a0 Unfortunately, the lobbying of minimum wages by political groups and unions has painted a positive picture for the idea of a higher wage, causing people to neglect the harmful effects of imposed laws.<\/p>\n

Negatives of A Minimum Wage<\/h3>\n

\u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Businesses are forced to pay more for labor, thus decreasing the quantity demanded for labor.\u00a0 They\u2019re simply not able to hire as many people because they\u2019re forced to pay fewer people a higher wage.<\/p>\n

\u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The younger and inexperienced workers are often left unemployed as employers would rather hire someone with more qualifications than over pay someone who is starting out.<\/p>\n

\u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The ultimate minimum wage is $0.00, which is the wage received by those who are denied a job due to the fact that employers aren\u2019t willing to hire an unskilled laborer.<\/p>\n

\u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Workers at or just above the minimum wage will insist on a raise in pay when the minimum wage rises, causing employers to increase pay across the board.\u00a0 Consumers can expect to see the extra expense passed through to them in the form of increased prices.<\/p>\n

Ultimately, it is most often the young and inexperienced worker who is left with no job because the minimum wage laws.\u00a0 This is unfortunate because the worker may have been willing to sell his labor to the employer for a lesser rate and both parties would have been happy.\u00a0 Instead, the worker is unable to work at all because the employer is restricted from hiring him (or her) at the level at which they agree.<\/p>\n

Have you ever heard this approach to minimum wage?\u00a0 Did you find it to be interesting?<\/strong><\/p>\n

Just curious\u2026 What was the minimum wage when you started your first job?<\/strong><\/p>\n

\u00a0<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"

As with many laws imposed on the economy, the outcomes and incentives created can differ from the original hopes and intentions of those creating them.\u00a0 Such is the case with the minimum wage.\u00a0 The harmful effects of the minimum wage laws are often masked by the claims that minimum wages help the worker and create […]<\/p>\n","protected":false},"author":2551,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-669","post","type-post","status-publish","format-standard","hentry","category-faith-and-economics"],"yoast_head":"\nWhy The Minimum Wage Is Harmful<\/title>\n<meta name=\"description\" content=\"As with many laws imposed on the economy, the outcomes and incentives created can differ from the original hopes and intentions of those creating them.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why The Minimum Wage Is Harmful\" \/>\n<meta property=\"og:description\" content=\"As with many laws imposed on the economy, the outcomes and incentives created can differ from the original hopes and intentions of those creating them.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/\" \/>\n<meta property=\"og:site_name\" content=\"Faith and Finance\" \/>\n<meta property=\"article:published_time\" content=\"2011-05-24T12:00:25+00:00\" \/>\n<meta name=\"author\" content=\"Tim\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tim\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/\",\"url\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/\",\"name\":\"Why The Minimum Wage Is Harmful\",\"isPartOf\":{\"@id\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/#website\"},\"datePublished\":\"2011-05-24T12:00:25+00:00\",\"dateModified\":\"2011-05-24T12:00:25+00:00\",\"author\":{\"@id\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/#\/schema\/person\/07a60b2d76d2330a1b7669d0656bb345\"},\"description\":\"As with many laws imposed on the economy, the outcomes and incentives created can differ from the original hopes and intentions of those creating them.\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why The Minimum Wage Is Harmful\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/#website\",\"url\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/\",\"name\":\"Faith and Finance\",\"description\":\"where faith and money meet\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/#\/schema\/person\/07a60b2d76d2330a1b7669d0656bb345\",\"name\":\"Tim\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/eec20331bcc09a83a33ba6b7aa693810?s=96&d=identicon&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/eec20331bcc09a83a33ba6b7aa693810?s=96&d=identicon&r=g\",\"caption\":\"Tim\"},\"url\":\"https:\/\/www.patheos.com\/blogs\/faithandfinance\/author\/tim\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why The Minimum Wage Is Harmful","description":"As with many laws imposed on the economy, the outcomes and incentives created can differ from the original hopes and intentions of those creating them.\u00a0","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/","og_locale":"en_US","og_type":"article","og_title":"Why The Minimum Wage Is Harmful","og_description":"As with many laws imposed on the economy, the outcomes and incentives created can differ from the original hopes and intentions of those creating them.\u00a0","og_url":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/","og_site_name":"Faith and Finance","article_published_time":"2011-05-24T12:00:25+00:00","author":"Tim","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tim","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/","url":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/","name":"Why The Minimum Wage Is Harmful","isPartOf":{"@id":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/#website"},"datePublished":"2011-05-24T12:00:25+00:00","dateModified":"2011-05-24T12:00:25+00:00","author":{"@id":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/#\/schema\/person\/07a60b2d76d2330a1b7669d0656bb345"},"description":"As with many laws imposed on the economy, the outcomes and incentives created can differ from the original hopes and intentions of those creating them.\u00a0","breadcrumb":{"@id":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/2011\/05\/24\/why-the-minimum-wage-is-harmful\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/"},{"@type":"ListItem","position":2,"name":"Why The Minimum Wage Is Harmful"}]},{"@type":"WebSite","@id":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/#website","url":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/","name":"Faith and Finance","description":"where faith and money meet","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/#\/schema\/person\/07a60b2d76d2330a1b7669d0656bb345","name":"Tim","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/eec20331bcc09a83a33ba6b7aa693810?s=96&d=identicon&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/eec20331bcc09a83a33ba6b7aa693810?s=96&d=identicon&r=g","caption":"Tim"},"url":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/author\/tim\/"}]}},"_links":{"self":[{"href":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/wp-json\/wp\/v2\/posts\/669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/wp-json\/wp\/v2\/users\/2551"}],"replies":[{"embeddable":true,"href":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/wp-json\/wp\/v2\/comments?post=669"}],"version-history":[{"count":0,"href":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/wp-json\/wp\/v2\/posts\/669\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/wp-json\/wp\/v2\/media?parent=669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/wp-json\/wp\/v2\/categories?post=669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.patheos.com\/blogs\/faithandfinance\/wp-json\/wp\/v2\/tags?post=669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}