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The Economics of Child Labor

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Matthews L., Young A., Block W. E.
Polish Journal of Political Science
|
2023
|
vol. 9
|
issue 4
28-46
EN
Many commentators attribute the decline of child labor in advanced economies to legislation prohibiting this practice. But another view asserts that the amount of child labor declined because rising affluence curbed the demand for and the supply of child laborers. Growing prosperity and cultural changes made it more convenient to educate children, thereby absolving the need for this practice. Although the decline of child labor is best explained by material prosperity, it will be demonstrated in this paper that not only can abolishing child labor be counterproductive, but in some cases, it is a vital platform for the accumulation of human capital. Did child labor all but end in advanced countries because of legislation prohibiting it? Or was it due to the fact that these economies were so well developed, so wealthy, that they could afford to keep youngsters in school instead? The former view is the most popular, the latter, the most correct, as we show in this paper.
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Should We Have the Minimum Wage at All? A Political Economic Analysis

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Selvaggi III R., Matthews L., Block W.
Polish Journal of Political Science
|
2024
|
vol. 10
|
issue 3
72-89
EN
Minimum wage laws are touted as an instrument to improve compensation for labor, particularly for the unskilled. However, by increasing wages above market levels, they reduce the demand for labor and dampen the prospects of job seekers. Such laws create a disincentive for corporations to employ low-skilled workers, thereby limiting opportunities for human capital acquisition. Therefore, the minimum wage has the reverse effect of harming rather than uplifting workers. Because this law does not achieve its stated objective, it should be abolished to allow the market to allocate labor and resources efficiently. We do not merely oppose an increase in the minimum wage level proscribed by law, nor do we favor the status quo in this regard. Nor do we call for a decrease in the legally mandated wage. Instead, we make the case that this pernicious legislation should be eliminated root and branch.
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