QUOTE OF THE DAY: On minimum wages

“The proposal is to make low wage earners less employable. To
steal their right to work for whatever wage they want to. To ensure
that they don't get the work experience they need in order to earn
more later in life. And most crucially of all, the increase in the
minimum wage would cement job security for those already
earning above the minimum wage. It does this by reducing
competition. That's why unions came up with the idea.”
           - Nickolai Hubble, from The Daily Reckoning Australia