Dear Libertarian Staff Writer,
Thank you for submitting your article, "Why the Left is Wrong About the Minimum Wage," to the December issue of the school newspaper. We have quite a history together, and as always, your pretensions are clearly on display. However, there are a few things I would like to say:
- The words Democrat and Democratic actually do need to be capitalised.
- Peoples requires a possessive apostrophe.
- You apply microeconomic theory to display the futility of the minimum wage. Here's another bit of micro for you: a rise in minimum wage corresponds to an upward shift in the marginal cost curve, and assuming that this business is operating at a point of profit maximisation (why would it not?), said shift does not change the business's optimally profitable output. Thus, whether it is paying $5.15/hour or $7.50/hour, the company is still operating at the point of greatest profitability and, well, there isn't much more you can ask of it to do.
- Addendum to this last point: microeconomic theory surrounding price floors does indeed say that minimum wage will create a surplus of workers. Further research, however, has actually shown otherwise. I would be able to tell you more, but this is all AP Econ Teacher told me and I haven't reached the chapter about labour as a factor of production yet.
Last note:
- If the minimum wage is so counterproductive to national employment, why the fuck does this slave labourer yours truly have a job that pays slightly above minimum wage, no less?
Love,
Your Communist Democratic Editor-in-Chief
Signing off, V.M. Bell