ARI Media Feed Posted January 15, 2008 Report Share Posted January 15, 2008 By David Holcberg from The Ayn Rand Institute Stories,cross-posted by MetaBlog The Price of Labor By David Holcberg (Wall Street Journal Europe, January 2, 2008) The minimum wage constitutes government coercion against both employers and employees. By mandating a certain level of wages, the government violates the rights of both employers and employees to reach a voluntary agreement based on their own independent judgment of what is in their best interest. Those who provide jobs have a right to set the wages they are willing to pay. And those who are willing and eager to work for relatively low wages--either because they are unskilled, inexperienced or would rather have a low-paying job than no job--have a right to do so. In a capitalist system, the price of labor (i.e., wages) is determined in the same way as all other prices and as it should be: by the individual judgments and voluntary decisions of buyers and sellers. http://ObjectivismOnline.com/archives/003170.html Quote Link to comment Share on other sites More sharing options...
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