In a free market economy the interaction between supply and demand sets prices. What happens when government interferes, and limits the freedom of market forces to set prices? For example, government dictating the price of labor; how does that impact an economy?
"San Francisco's higher minimum wage is causing an increasing number of restaurants to go out of business even before it is fully phased in, a new study by the Harvard Business School found.
The closings were concentrated among struggling, lower-rated restaurants. The higher minimum also caused fewer new restaurants to open, it found."
http://www.washingtonexaminer.com/hike-in-minimum-wage-prompts-more-closings-of-san-francisco-restaurants/article/2620454?custom_click=rss
"San Francisco's higher minimum wage is causing an increasing number of restaurants to go out of business even before it is fully phased in, a new study by the Harvard Business School found.
The closings were concentrated among struggling, lower-rated restaurants. The higher minimum also caused fewer new restaurants to open, it found."
http://www.washingtonexaminer.com/hike-in-minimum-wage-prompts-more-closings-of-san-francisco-restaurants/article/2620454?custom_click=rss