"market competition which undermines competition"
Ah, that makes sense ... NOT! Still doesnt compute.
"Minimum wages laws prevent wages from reaching market equilibrium of subsistence"
Once again - A Pole - MARX WAS WRONG!
There is no 'iron law of wages' - that was proven wrong, and there is no 'market equilibrium of subsistence'. The 'market equilibrium' for box office stars like Leo DiCaprio or Tom Cruise is $20 million a picture, not 'subsistence'.
If American minimum wage law was repealed you would NOT see wages falling much ... or at all.
You continue to believe Marxist myths that simply are NOT TRUE. I geniunely feel sorry that you are unwilling to see the errors of your anti-market mis-education in economics.
The Truth will Set you Free!
Oh, it does. Have you ever played the Monopoly game? There is a possibility that in free market competition one or few players take everything. As a result of competition the competition stops. A little of Hegelian/Marxist dialectic :) That is why you need anti-trust laws.
"Minimum wages laws prevent wages from reaching market equilibrium of subsistence"
Once again - A Pole - MARX WAS WRONG! There is no 'iron law of wages'
You see Marx under every bed. It was David Ricardo who also author of the competitive advantage law.
I already learned the Truth. It is in the Gospel of Jesus Christ. Free Market ideology is a heresy and a destructive cult.