Price Floors, yo.

Aside from minimum wage, I don't think price floors are altogether that beneficial to the economy either. Of course, in some situations there are perks - a higher price means more income for the businesses. However, a higher price also means that less people are going to be willing or able to buy the product, and thus the consumer market will go down. Businesses having the same goods at different prices is a very important part of the economy; when businesses compete, they lower their prices to beat the others and as such, provide the consumers with a lower price. Competition in business is much better for the economy as compared to having price floors set on goods. It would also throw off the market equilibrium, creating a surplus of certain goods; if people are less willing to buy goods at the higher price, but the supply increases because of the raised price, then the businesses will end up with a surplus of goods.