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Please read this: https://www.reddit.com/r/explainlikeimfive/comments/3ulzdy/e...

Raising the minimum wage WILL increase unemployment. That's Economics 101. Companies are going to find ways to fire people, or give them fewer hours. Raising the minimum wage to something like $15 would be ludicrous.




> Raising the minimum wage WILL increase unemployment.

Reality disagrees :) Germany introduced minimum wage recently and the opposite of your prediction happened.

The argument didn't match reality because it completely ignores the growth of purchasing power that is a consequence of higer wages.


Econ 101 is "look at what happened in Australia". The commenter addresses that actually but his response is really lame. "Things are just different there". Uh huh.

Actually this is pretty much a model for what would happen to McDonalds in the US:

http://uk.businessinsider.com/mcdonalds-in-australia-vs-amer...


Nonsense. That's simply wrong.

And if Econ 101 states it's true, then Econ 101 is wrong too.

Here's a more fact-based explanation, with links to studies and comments by economists:

http://www.dol.gov/minwage/mythbuster.htm




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