More Videos:
▶Why Minimum Wage is Bad for Workers: https://youtu.be/1DsZnI8lX-A
▶Unknown Facts About the 'Top 1%': https://youtu.be/fewjhevKv_U
▶The Unseen Costs of Government's 'Life-Saving' Policies: https://youtu.be/ds7elx5Pqo0

I highly appreciate that I found this channel. It was an eye opening experience for me. Also it's great for me to appreciate that I watch this, while a legend is alive :)

You did a better job of explaining this than my college professors who seem to always go to Rich white supremacist industries.

Excellent analysis by TS as usual. The other aspect of min wage not mentioned in the video clip is the exporting of low cost jobs to even lower cost countries. Whilst companies are not allowed to pay domestic workers less than a certain hourly rate their rational response was to merely export low cost jobs to countries where wages and all other costs of business were even lower. This makes unemployment prospects amongst younger and low skilled workers even worse. Politicians once again making the problem worse by interfering in the free market.

"Motivation is what gets you started. Habit is what keeps you going." --Jim Ryun

In the very first sentence he shows he is head and shoulders above the rest of the economists .I have never heard that explanation before.Mr Sowell shows he is a true second or third level thinker which means he is going to have a hard time convincing people as to the rightness of his ideas.

perfectly explained as usual! :)

One other consideration which Sowell doesn’t address is the nature of the black teen generations in later decades. A loss of respect for employers and society in general does a lot of damage that makes employers a lot less likely to higher them, whether warranted with a particular black individual or not.

"If you don't value your time, neither will others. Stop giving away your time and talents--start charging for it." --Kim Garst

Excellent! Very educational.

I reside in Virginia where the minimum wage is currently $11 an hour for our workers, but i have no problem with the deep south and some rust belt states working for lower wages and basically living as a lower caste in our society. The unemployment in Virginia is about even with states like Alabama, Georgia, and South Carolina.

Artificially squeezing the economics equation results in unintended consequences.

Thanks!

Dr. Sowell this is the best explanation of the economic effect of minimum wage laws I have seen.

Variable minimum wage laws will reduce the unemployment rate by 1% to 1.5% in 🍁 and help small businesses and unemployed workers.

Automation (Boston Dynamics) will get rid of useless 👷

* The [minimum wage] has escalated. *