Anyone who’s tried to pay a heating bill, fill a prescription, or simply buy groceries knows all too well that the current minimum wage does not cut the mustard.–Sherrod Brown
At the current $5.15 an hour, the federal minimum wage has become a poverty wage. A full-time worker with one child lives below the official poverty line.–Bernie Sanders
The article below has numerous fallacies. How many can you find?
What exactly are the UVA students demanding and what are the implications? What economic laws are being ignored? If YOU directly wanted to help these janitors but you were a broke student, what would you suggest your group do?
What can people do to raise all wages without coercion? What exactly is a minimum wage and what are the consequences of the students’ demands. Are there any unintended effects? If the students were not violating any economic laws what wage rate should they demand?
What motivates the students’ actions? Are they stupid, ignorant, noble or viscious?
If you need help analyzing this then go to Economics in One Lesson by Henry Hazlitt and read the chapter on minimum wage laws or view the video here:
http://www.youtube.com/watch?v=VD28vNVovow and go to 2 hours and 36 minute mark–interview with George Reisman.
If you want to see a commentary on the above article, read this: http://cafehayek.com/2012/02/hungry-for-attention.html
7 responses to “Economic Nonsense: UVA Student on a Hunger Strike for Higher Minimum Wages for University Janitors”