Don Boudreaux at Cafe Hayek responds to someone who
“simply can’t imagine” that raising the minimum wage by $2.85 [per hour]… “will trigger businesses to hire less workers.”
I’ve been amazed over the years at how many form their opinion solely only at what they can or cannot imagine in the moment.
Have they never had experiences where reality turned out differently from what they imagined?
Have they considered that they may simply lack imagination?
Have they considered that it is difficult to imagine what business owners will do when you are not a business owner?
Even if you are a business owner, it can be difficult to imagine what you will do when faced with changes to your business. You can easily say what you think you would do, but then do something entirely differently when faced with the actual costs and benefits and not even realize it.