California Dreaming - Minimum Wage Edition

Trading Perspectives: An Economic Podcast

Last week, the minimum wage for fast food workers in California went to $20. This will become the de facto minimum wage for unskilled labor across the state. While it might seem like a win for workers, what will be the likely end result? After all, someone will have to absorb this mandated cost increase, and it isn’t just going to be employers. Don’t tell anyone in Sacramento that, though.

In this week’s Trading Perspectives, Sam and John discuss the concept of the minimum wage and what its real impact is. If you took an Econ 101 class, you already know the answer.