John Stossel cuts thru the clutter with this article on the minimum wage. AS he says the idea of an all knowing govt saying by fiat that everyone must make so much money is nonsense, Instead jobs are simply not created.
the entire country of France tried this on a national scale. the thinking was, are you ready, employers will have to hire more people if they are forbidden to work more than what was it, 37 hours a week?
the predictable result of course was near double digit unemployment in Western Europe and that was before the meltdown.
Nos the govt is subsidizing new home sales, to the detriment of older home sales.
And there are bi weekly promsises of lower mortgage rates. The result is that buyers decided to wait for better deals, instead of moving on the deal they are offered. This is always the result of govt interference in the markets.
Only goverments can create a shortage, markets left to their own devices solve shortages.
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