For our latest event, Butler YAL wanted to make sure hit a subject that was popular and in the news; to that end we decided to host Dr. Richard Vedder through YAL U to discuss why the federal minimum wage hurts the very poor!
The program itself was very intuitive and easy to set up, even for a non-tech person like me. The audio/video quality was excellent and it arrived in time for us to do a successful test run. Having pizza delivered also helped a lot with attendance.
The program was very successful and we had about 23 people show up, despite having a sorority fundraiser and a concert the same day. Several people who attended the talk were actually pro-“living wage” but came out with a new perspective after looking at the actual economic evidence and not the talking points that come from politicians.
Dr. Vedder got into the root issue with raising the minimum wage, in that it drives out low skilled workers, especially youth and minorities. He explained why Milton Friedman called the minimum wage the most “Anti-[African American] program in existance.” Many people do not grasp the fact that setting a price floor, no matter what the product, will decrease demand for it. No matter what you call the floor. This is one of the policies that will just increase drive for automation, as most economists understand. Butler YAL was able to get about five new-sign ups from the event, as well!
If asked, I would definitely recommend YAL U to other chapters as a way to bring high quality speakers to campus if they don’t have a lot of money. It was a great experience and awesome to have as a resource!