Corruption exists on its own. Regulation does not lever up corruption nor does it lever it down. Linking the two makes no sense and causation is not correlation.
I have not found one instance when raising the minimum wage had a long term detrimental impact on employment or gdp. If anything it’s neutral or even beneficial. If someone can show anything besides theory on the detrimental impact of raising the minimum wage i would be very interested.
Off shoring has been virtually entirely about exploiting wage differential (for whatever the cause of the wage differential). Same with manufacturing growth in southern states vs northern states.
Yet we are at full employment plus today. The economic issue today IS wages. People talk about bringing manufacturing back but who is going to work those jobs, especially at a reduced wage? We are employed beyond labor market capacity. If we want to free up labor, we have to increase the qualifications of the non college/non trade school worker. But, right now, what is sorely needed is wage raises.
"In that book, I do a study of labor markets in South Africa, during its apartheid era, and I give citation after citation of racist Unions in South Africa who would never have a black as a member were the major supporters of minimum wage laws FOR BLACKS. And their stated reason was to make the wage high enough so that employers would not hire black workers, they would hire white workers. So it turns out that the minimum wage is the most effective tool in the arsenal of racists everywhere in the world." Walter Williams
When you have to go to South Africa to find an example for your position it’s time to throw in the towel.
I object, to no avail of course, to those whom Chomsky has termed "anarcho-capitalists," calling themselves "libertarians". this misuse of the word. common in the U.S., speaks to the woeful lack of education -- antipathy toward it actually-- and lack of intellect found in many on the far right of the political spectrum. It's a pity, as it bodes ill for the Nation's future.
If the free market pushes wages up, that’s one thing. But to force government regulation on this issue is another. Here is a non-hypothetical example: a guy has a plant in Massachusetts. Labor rates are going up because of regulation and he has to compete not only with China but with Virginia. He might have to absorb 15 dollars/hour now but he will look for alternative which while likely to not be China (as he has built a niche to combat that) but will likely be a more favorable state. Employees who were fine taking 13/hour from him will have to find another job in 3 months. And when there is a recession, those minimum wage laws don’t get rolled back. What happens then?
Wages don't get rolled back in a recession. Wages are a business cost like lights and rent. I dont remember any landlord slicing off 20% of the rent just because the economy was bad. I either paid or was evicted. (commercial leases)