Minimum wage laws destroy jobs, ruin opportunities, prevent teenagers from working, and shuts down businesses. It's hard to imagine a more destructive government policy.

Why do bureaucrats not get that? What is it about the mathematics of supply and demand that make educated politicians turn into mindless anti-market morons? Doubly so when that math is applied to labor?

I try to understand opposing views on this. The argument most frequently offered is that we need more government intervention because the previous government intervention we did is causing problems:

Here in Minnesota we just raised our minimum wage, and I could cry about it for the damage it does to the most marginalized in our society. Teenagers, minorities, immigrants. These are the people the plantation owners - the technocrats living fat off our taxes - are hurting.

A gelato shop, Rita's, just opened in the strip mall near me.  Hundreds of teenagers applied. They applied for the money for sure, but mostly they were just kids looking for a fun job.

Now, because of the higher minimum wage, fewer of them will be hired.

Tags: News, Minimum Wage, Laws of supply and demand, Rita's