Left-Wing Economist and Politicians use the fallacious claim that "low skill workers have no bargaining power" to justify the minimum wage, while simultaneously stripping bargaining power from them through overtime pay laws. They base their fallacious claim on another fallacy - the low skill labor buyers monopoly.
In Episode 46 of TheMacroView Host Andrew Smith debunks both myths and explains where "bargaining power" comes from in the labor market.
Getting back to the basics of economics - Andrew teaches listeners why low skilled workers have a tougher time earning raises, and what they can potentially do about it in a free market setting.
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