Should Minimum Wage Be Raised? (Milton Friedman) | from Not An Economist channel

Thank you Twister for the narration!
As it often happens, the initial good intentions of helping the poor result in harming them even more. Do you think the minimum wage should be raised? In that case why not raise it to $100 dollars an hour? The real reason behind raising the minimum wage is to avoid competition from currently unskilled workers, who are forced into unemployment rather than starting to work for low wages, getting on the job experience/skills, and over time moving onto more comfortable, better paying jobs. As Thomas Sowell said, the real minimum wage should be zero.

0:00 - The Real Definition of Minimum Wage
1:07 - Why Do We Have The Minimum Wage and Who Favors It?
2:00 - Cost of Minimum Wage

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