What exactly do they teach in college economics?

[NeBlis]

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Minimum wage only reduces employment if there are workers whose total value to the firm is less than the new minimum wage.

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Which is almost always the case with minimum wage workers. Again virtually no one works for minimum wage. The only people that do are in "warm body" type jobs and are nearly always worth less than they are payed. This will only become more true when you force companies to pay them even more than they are worth.