Joe Doakes from Como Park emails:
St. Paul and Minneapolis are considering raising the minimum wage to $15 per hour. There are no studies on the effect of a $15 per hour minimum wage because it’s never been that high. The studies of effects of prior minimum wage increases go both ways, depending on who you believe. What to do?
This is where it helps to be conservative, because we have principles to guide our actions, not just feelings. One principle is: “There’s no such thing as a free lunch.” Another is: “Don’t tear down a fence until you know why it was built.” The core thought underlying these principles is to make changes cautiously, only when you’re certain they won’t cause more harm than good. Since the evidence is equivocal, adherence to conservative principles would dictate that we not raise the minimum wage to $15.
But Democrats are not conservatives so they have no such principles to restrain them. They’re going to raise it because it will please the mob and that’s the most important thing to them. So if you’re going to raise it despite the evidence, why stop at $15? Why not raise it to $100 per hour and we’ll all be rich? Pikers.
Power is the principle.
Finland’s experiment with every wonks favorite utopian program, the guaranteed income, seems to have failed.
The reason? Hard as it may be to believe, if you pay people not to work, they won’t work.