> When thinking about the minimum wage as a "fallacy,"  
it's worth recalling that one of the  
> arguments made in Congress in the 1930s in favor of  
enacting a minimum wage was precisely that it  
> would reduce teenage employment and induce employers  
> to substitute (some) adult labor.  So where's the  
fallacy in that?  
> Donald A. Coffin  
  
That historical justification is no fallacy, but  
raising the minimum wage today has support among much  
of the population, and some (probably a minority of)   
economists, who think this would generally improve the  
status of low-income families.  I presume most  
economists today would regard that proposition as a  
fallacy.  
  
Fred Foldvary