#LetPeopleProsper Series Episode 3: Opportunity Cost & Minimum Wage

6/20/2018

In this episode, I talk about the concept of opportunity costs and how we must sacrifice things to satisfy our desires. We work to consume, but an artificial minimum wage set by government distorts the labor market and hurts low-skilled workers the most.

Find the article on DC here and the average tipped wages from BLS here.

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Vance Ginn, Ph.D.
Chief Economist
TPPF
#LetPeopleProsper

Vance Ginn, Ph.D., is founder and president of Ginn Economic Consulting, LLC. He is chief economist at Pelican Institute for Public Policy and senior fellow at Young Americans for Liberty and other institutions. He previously served as the associate director for economic policy of the White House’s Office of Management and Budget, 2019-20.

Follow him on Twitter: @vanceginn

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