The seen, the unseen and minimum wage hikes

Some readers may have been convinced of the immorality of a minimum wage. Still, they worry about the consequences of not having one. After all, minimum wage laws affect only entry level jobs that require no experience or skills. Won’t the wages of the poorest workers collapse? The question illustrates one of the most important principles of economics, what is seen vs. what is not seen, or the short-term vs. the long-term. The media and the public focus exclusively on the most visible aspects of
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