The Robot Employment Act?

In light of LA’s vote to increase the minimum age to $15 an hour by 2020 here is one of my favorite pictures and caption from Modern Principles of Economics.

From Cowen-Tabarrok, Modern Principles of Economics

Should the Minimum Wage be called the “Robot Employment Act?”

Cowen-Tabarrok, Modern Principles of Economics, 3rd ed

 

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