Minimum wage is just another form of price control, and if we move from equilibrium vie price control other things have to move, e.g. worker treatment, benefits.
When we have price control our equilbrium that should be $800, and is controlled to $400 *becomes $1200* This sucks.
Scarcity and rarity: the same thing? Nope. Scarcity is about enough to go around, rarity is absolute
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