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علوم اجتماعی و جامعه شناسی::
قانون حداقل دستمزد
Intervention by politicians, judges, or others, in order to impose terms more favorable to one side- minimum wage laws or rent control laws, for example- reduces the overlapping set of mutually agreeable terms and, almost invariably, reduces the number of mutually acceptable transactions, as the party disfavored by the intervention makes fewer transactions subsequently.
Countries with generous minimum wage laws, for example, often have higher unemployment rates and longer periods of unemployment than other countries, as employers offer fewer jobs to inexperienced and low-skilled workers, who are typically the least valued and lowest paid- and who are most often priced out of a job by minimum wage laws.
It is not uncommon in European countries with generous minimum wage laws, as well as other worker benefits that employers are mandated to pay for, to have inexperienced younger workers with unemployment rates of 20 percent or more.31 Employers are made slightly worse off by having to rearrange their businesses and perhaps pay for more machinery to replace the low-skilled workers whom it is no longer economic to hire.
Just as minimum wage laws tend to reduce employment transactions with those whose pay is most affected, so rent control laws have been followed by housing shortages in Cairo, Melbourne, Hanoi, Paris, New York and numerous other places around the world.
While sincerity and humane feelings are often denied to ideological opponents by those with the vision of the anointed, whether or not opposition to particular policies, such as minimum wage laws or rent control laws, for example, is in fact due to a lack of compassion for the poor is irrelevant to the question whether the arguments for or against such policies have either empirical or analytical validity.
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