[5thaccount]

Think how much regulatory red tape there must be for that to be a better way to do things! There is the point at which laws designed to protect people end up hurting them. The Seattle minimum wage experiment is a good example: http://marginalrevolution.com/marginalrevolution/2017/06/sea... (https://evans.uw.edu/sites/default/files/NBER%20Working%20Pa...)

> – The numbers of hours worked by low-wage workers fell by 3.5 million hours per quarter. This was reflected both in thousands of job losses and reductions in hours worked by those who retained their jobs. > > – The losses were so dramatic that this increase “reduced income paid to low-wage employees of single-location Seattle businesses by roughly $120 million on an annual basis.” On average, low-wage workers lost $125 per month. The minimum wage has always been a lousy income transfer program, but at this level you’d come out ahead just setting a hundred million dollars a year on fire. And that’s before we get into who kept vs lost their jobs.

When laws with one goal achieve the exact opposite, we need to rethink the laws. Unfortunately, pyrrhic victories are rather common in politics.