[throwaway73838]

I don’t see the logic. If what you’re saying was true, the free market would do this anyway. Employment is mathematically the same as any other commodity - mandatory price floors will make people who’s real value is lower than the market rate become unemployed.

I think evidence is important here. Look at the unemployment level of Singapore (no minimum wage). Now look at the same for Australia (high minimum wage). A great many jobs exist in Singapore that wouldn’t exist in Australia (such as people who conduct customer experience surveys at airports in SG) because it wouldn’t be profitable.

If you can give me a clear, direct, non vague, logically justified, and non conspiratorial alternative explanation, I’ll eat my hat.

[imtringued]

By the way, we do not have a free market. We have a distorted market. Nobody is trying to get rid of the distortions in mainstream economics by the way so it is appropriate to give the current market the name capitalistic market.