When governments force specific terms of employment on businesses, they prevent individuals and businesses from negotiating the terms that best suit their circumstances.
If restaurants truly tried to levy exorbitant prices that were beyond their customers’ willingness to pay, they would lose business. This phenomenon has been witnessed time and time again.
When regulators think that they know better than the market, the result is that jobs become less accessible, stripping people of valuable opportunities to develop their skills and build wealth.
