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How The Free Market Deals With “Minimum Wage” or “Living Wage” Increases

Posted December 27, 2013 by Mulder

In 2013 there was a bump in discussion with regards to raising minimum wage to what is being termed a “living wage”. Any Economics 101 student can tell you is that a minimum wage is a price floor. What price floors do is prevent the market from reaching the equilibrium point and in the case […]

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