Stephen Green is one of several guest posters at http://pjmedia.com/instapundit/. I have encountered his work many times over the years and have often found him to have very useful insights.
Yesterday he offered another useful insight. He made the point on Instapundit that the real minimum wage is zero.
The context was the discussion of restaurant owners' plans to adapt to increases in the California minimum wage. They boiled down to massaging menus to be as labor unintensive as possible and using fewer busboys and low level staff.
So, the result of a raise in the minimum wage, will, as always, be the killing of jobs. The minimum wage for those cooks, busboys and dishwashers now? Zero.
