Steve points to Tyler on minimum wage and youth unemployment. My hope: The California voters won't care what economists think about minimum wages and the voters will support Ron Unz's ballot initiative to raise the minimum wage to $12 per hour.
Yet another potential side effect of high minimum wages has just dawned on me. Picture yourself a teenager and suppose you know you can't get a job and once you graduate from high school you still won't be able to get a job. What to do?
If teens can not get jobs doesn’t that send them a signal that alters their sense the relative value of different ways to spend their time? Isn't their uselessness a useful signal? Do you see where I'm going with this?
Unemployment sends some teens the very useful signal that they are worthless with their current skill set. Therefore they have a desperate need to come up with a game plan for how to become more productive and capable of creating more value.
What we ought to tell teens: You are going to be a total loser unless you try very hard to get useful skills.
|Share |||By Randall Parker at 2014 January 22 08:21 PM|