Minimum wage laws do not increase wages, it simply prohibits consenting parties from forming a contract. One's wage depends on their KSAs (knowledge, skills, & abilities). The value of an employee depends on their KSAs. If certain KSAs are in high demand for the field in question, than the individual becomes more valuable to the company; if certain KSAs are relevant to field but are in low supply, than it can give the individual a competitive edge. If an individual's KSAs are lacking, their value to the company may fall below that of the minimum wage. In such cases, they would be unable to find employment, because they would be a liability rather than an asset. Minimum wage laws make it harder to enter the workforce, or to gain work experience. They only serve to raise the job requirements
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
