Minimum Wage Increase: Raising Minimum Wage—Should Minimum Wage Be Raised

Minimum wage increase is something that I stand against as raising minimum wage simply doesn't work. The minimum wage increase throughout recorded history has proven a failure and every time the minimal wage increase has occurred, unemployment soared. In this video on the minimum wage increase I set out to explain the faults of why it's bad for the economy. People may ask 'Should minimum wage be raised' and with enough information I have provided in this video this should answer in basic why it's wrong. I also give the alternative giving a little history behind the background of Hong Kong and why the free market is the solution.

When people cry out to raise minimum wage they don't realise that when price goes up of lower skilled workers, demand from the employer goes down. It is for this reason that raising the minimum wage is destructive which causes businesses to seek to compensate for the minimum wage increase. Minimum wages are price floors and pretty much like any price controls it distorts market value causing problems. ... https://www.youtube.com/watch?v=iYjQsoOS6J4