Birdwatch Note Rating
2022-12-20 04:35:12 UTC - NOT_HELPFUL
Rated by Participant: C740DE02E733BBEA4FEF3BF7631F532E2CFD3DEC38BA9790C01078EC3F946ED4
Participant Details
Original Note:
Price floors create surpluses. This is economic fact. https://en.wikipedia.org/wiki/Price_floor https://open.lib.umn.edu/principleseconomics/chapter/4-2-government-intervention-in-market-prices-price-floors-and-price-ceilings/ Many economists suggest that a minimum wage, which is a price floor put into practice, increases unemployment. There are studies supporting this claim. https://www.neusenews.com/index/2020/8/31/letter-to-the-editor-good-intentions-have-unintended-consequences-the-fallacy-of-minimum-wage-laws Free market supporters oppose minimum wage laws on these grounds.
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