Mo Money, Fewer Problems
Jonathan Adler of the VC points to a WSJ op/ed by Becker and Posner on the problems of increasing the minimum wage. Namely, it results in the increase in the cost of goods produced by unskilled labor, which are most frequently consumed by the poor. Which if true, then the increased spending power of those unskilled laborers would go right back to their employers, thereby offsetting any lost revenues caused by a minimum wage increase. I guess trickle down theory is a one way street.