The Frontier Centre for Public Policy has just released a new research paper, Against the Minimum Wage. This research paper is authored by Matthew Lau, a research associate with the Frontier Centre for Public Policy. This paper reviews the negative effects of rising minimum wages in Ontario, Alberta and British Columbia.
These three provinces are looking to raise their minimum wages to $15 per hour, arguing that this wage hike will reduce poverty, unemployment and even increase economic growth. While this may positive for those who need it, basic economics argues otherwise. Raising the minimum wages actually harms the poor because increases in minimum wages raise consumer prices. This results in an overall reduction in economic growth and an increase in poverty. This research paper gives a thorough discussion of the minimum wage legislation and why it should be abandoned.
To read this critical research paper, click here: FC-PS212_AgainstMinWage_JN0118_F1