hiring of unskilled workers by 1 to 2%, which seems a relatively small reduction. In fact, some studies have

even found no effect of a higher minimum wage on employment at certain times and places—although these

studies are controversial. Well-known economists Walter Williams and Thomas Sowell, who both focus on the

intersections of race and economics, argue that minimum wages increase discrimination and limit economic

mobility. Williams, for example, indicates that higher minimum wages would increase employment barriers

for lower-skilled workers, reducing the opportunity for them to learn on the job and gain experience that

would give them more choice in employment.

Let’s suppose that the minimum wage lies just slightly belowthe equilibrium wage level. Wages could fluctuate

according to market forces above this price floor, but they would not be allowed to move beneath the floor. In
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