How a Minimum Wage Hurts Those It's Designed to Protect

Many who support raising the minimum wage to $15 an hour do so because they truly want something better for other people.But before we make decisions about policy, we must always ask whether or not it is effective at achieving its end goal.

Some people seem to think that artificially raising minimum wage results in some workers receiving more money and that's the end of it. They don't consider the other consequences.

Raising minimum wage raises the cost of business for large and small businesses alike. That rise in cost will result in that business employing fewer individuals or raising prices or both. A rise in minimum wage doesn't help much if the result is higher prices or not having a job. The real minimum wage is always 0.

Source: How a Minimum Wage Hurts Those It's Designed to Protect - Foundation for Economic Education