I learned something from this one.

Educational post on the minimum wage over at Asymmetrical Information.

I’m embarrassed to admit that I thought of the issue a lot more simply than seems to be the case — as a tension between wages and employment levels.  There’s more to it than that.  An example:  "[M]ost people working at minimum wage are supplementing their studies, or their spouse’s income, rather than trying to support themselves with such a job. So in order to get to the relatively small number of people who need the money, we provide a subsidy to the 71% who do not. This is not very efficient social policy."