This study looks at the negative effects of the minimum wage in the UK, focusing on changes that have further entrenched unfree labour markets and limited the ability for entrepreneurial activity to develop. In effect, the minimum wage acts as simply another entry barrier to free market activity, enabling interest groups to monopolise their economic position further.
The study is linked here: The Negative Effects of the Minimum Wage on Non
My report on the effects of the UK’s minimum wage on unskilled, young workers in the labour market. Within the report, I find significant negative effects on this demographic, including increased unemployment and underemployment occurring since 2001, as well as disemployment effects due to reduced small business growth. I recommend sensible, politically astute reforms in the conclusion that could mitigate these effects, and reduce the distortionary power of the minimum wage.