R.I.P. Pin Group: the impact of minimum wages (amv)

Economic theory is quite clear about the impact of minimum wages: ceteris paribus, it causes unemployment by shifting labor cost above labor productivity. Here, I commented the attempt to introduce minimum wages for postal services (Here, a "bolder" statement). Now, Pin Group - the latest victim of German protectionist legislation - has to shut down. Up to 7500 people will lose their jobs. Q.E.D.