{"id":33,"date":"2008-11-21T12:04:58","date_gmt":"2008-11-21T12:04:58","guid":{"rendered":"http:\/\/prodos.solidvox.com\/?p=33"},"modified":"2008-11-21T12:04:58","modified_gmt":"2008-11-21T12:04:58","slug":"the-effect-of-repealing-miminum-wage-laws","status":"publish","type":"post","link":"https:\/\/prodos.solidvox.com\/?p=33","title":{"rendered":"The effect of repealing miminum wage laws?"},"content":{"rendered":"<p>An interview with free market economist, <strong>Gerard Jackson<\/strong>, on: What would be the effect of completely abolishing minimum wage laws?<\/p>\n<ul>\n<li><a title=\"Gerard Jackson talks with PRODOS Worldwide on: What would be the effect of abolishing all minimum wage laws?\" href=\"http:\/\/SolidVox.com\/pw-labormarketreform06.mp3\">Listen, download, or podcast this interview<\/a><\/li>\n<\/ul>\n<p>The idea of a government mandated minimum wage is deeply entrenched in Australia, the United States, and across the West.<\/p>\n<p>In 1933, American President, Franklin D Roosevelt <a title=\"Franklin D Roosevelt 1933 argues for the minimum wage\" href=\"http:\/\/www.fdrlibrary.marist.edu\/odnirast.html\" target=\"_blank\">said<\/a><\/p>\n<blockquote><p>&#8230; no business which depends for existence on paying less than living wages to its workers has any right to continue in this country.<\/p><\/blockquote>\n<p>But Gerard Jackson argues that an &#8220;effective minimum wage&#8221; (one that is higher than what a free market would deliver) is a key factor in creating unemployment.<\/p>\n<p>Topics covered during this interview include:<\/p>\n<p>Even The Howard Government&#8217;s Workchoice laws <a title=\"Australian WorkChoices laws preserve minimum wage\" href=\"https:\/\/www.workchoices.gov.au\/ourplan\/publications\/WorkChoicesandminimumratesofpay.htm\" target=\"_blank\">preserve a minimum wage<\/a>. The wage rate being discussed includes money in the pay packet AND all other conditions and benefits such as holidays, conditions, etc. What is meant by the &#8220;effective minimum wage&#8221;. Politicians as economic illiterates.<\/p>\n<p>The discredited methodology of the <a title=\"David Card and Alan Krueger discredited\" href=\"http:\/\/www.cato.org\/pubs\/regulation\/reg18n1c.html\">David Card &#038; Alan Krueger<\/a> report that claimed increasing minimum wages does not necessarily cause unemployment. Why do workers and employers have different &#8220;rights&#8221;? The role of capital structure &#8211; the material means of production &#8211; in determining real wage rates. Adam Smith&#8217;s confusion on this issue.<\/p>\n<p>And much more!<\/p>\n<p>For further comments regarding the way unions wrongly rely on the Card-Krueger study, read Gerard Jackson&#8217;s essays <a title=\"Unions rely on David Card and Alan Krueger study\" href=\"http:\/\/www.brookesnews.com\/061704combet.html\" target=\"_blank\">here<\/a> and <a title=\"Unions claim minium wages don't cause unemployment by relying on Card-Krueger study.\" href=\"http:\/\/www.brookesnews.com\/050108actu.html\" target=\"_blank\">here<\/a>.<\/p>\n<ul>\n<li><a title=\"Gerard Jackson talks with PRODOS Worldwide on: What would be the effect of abolishing all minimum wage laws?\" href=\"http:\/\/SolidVox.com\/pw-labormarketreform06.mp3\">Listen, download, or podcast this interview<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>An interview with free market economist, Gerard Jackson, on: What would be the effect of completely abolishing minimum wage laws? Listen, download, or podcast this interview The idea of a government mandated minimum wage is deeply entrenched in Australia, the United States, and across the West. In 1933, American President, Franklin D Roosevelt said &#8230; &hellip; <a href=\"https:\/\/prodos.solidvox.com\/?p=33\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">The effect of repealing miminum wage laws?<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-33","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=\/wp\/v2\/posts\/33","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33"}],"version-history":[{"count":0,"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=\/wp\/v2\/posts\/33\/revisions"}],"wp:attachment":[{"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prodos.solidvox.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}