This year Panama increased their minimum wage and I railed against it to no avail. Minimum wage laws are always popular with politicians and unions as they believe it is helping labor by forcing businesses to pay a "fair rate" for their efforts. In the end it causes unemployment, higher prices for goods and services and poor quality service from businesses who are forced to cut somewhere or raise prices to cover these additional costs. Our friends at the Center for Freedom and Prosperity have brought us another good video to help us understand this.
Become a Fan
Join
- Join our mailing list and receive the latest news once a week!
Invest
Panama Opportunities
« Panama & "friends" practice to protect the canal | Main | Over $3 billion in new infrastructure projects for Panama »
Recent Comments