Misunderstanding Minimum Wages
Mike and Russ discuss the misconceptions surrounding minimum wages and how they create a divide between market price and transacted price, leading to a surplus of unemployed individuals searching for jobs.In this clip
From this podcast
EconTalk
Munger on Shortages, Prices, and Competition
Related Questions
How does minimum wage affect the economy?
How does minimum wage affect the economy as discussed in the episode The True Story of the Minimum-Wage Fight | Freakonomics Radio | Episode 460 and the clip Minimum Wage Dilemmas?
How does minimum wage affect the economy as discussed in the episode The True Story of the Minimum-Wage Fight | Freakonomics Radio | Episode 460 and the clip Minimum Wage Debate?