Comment: Now add in inflation

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Now add in inflation

Which will actually gradually lower the real value of the minimum wage . . .

Actually I like your analysis. Anyway, if we consider the near term, minimum wage laws can havea small or no impact on unemployment in certain mixed economies. If you extend the time considerations, yes, there will eventually be a negative impact. But the argument goes that in the longer run so many things change unpredictably that the original prediction is not relevant anymore.