It’s official: Alberta’s minimum wage will be $15 an hour by 2018.
Most people might find it counter-intuitive to hear that raising the minimum wage is harmful, but I can explain.
And it’s not just my opinion:
Thousands of years of economic history backs me up.
For example, economist Thomas Sowell writes:
“Just look down the unemployment column for countries with unemployment rates around 25 percent. Spain, Greece, and South Africa are always there, whether or not there is a recession. Why? Because they have very generous minimum-wage laws.
“While you are there, you can look up the unemployment rate for Switzerland, which has no minimum-wage law at all. Over the years, I have never seen the unemployment rate in Switzerland reach as high as 4 per cent.”
PS: Did you know the original minimum wage laws were racist? WATCH and learn…
Wildrose MLA Grant Hunter joins me to talk more about this issue.
Then energy expert Tom Adams and I discuss why Ontario Liberal Premier Kathleen Wynne’s hydro rebate is another dumb, economically illiterate idea.