Released: March 03, 2013
The business of the minimum wage
Source: Christina D. Romer - The N.Y. Times ( Paid Registration )
Raising the minimum wage, as President Obama proposed in his State of the Union address, tends to be more popular with the general public than with economists.
I don’t believe that’s because economists care less about the plight of the poor — many economists are perfectly nice people who care deeply about poverty and income inequality. Rather, economic analysis raises questions about whether a higher minimum wage will achieve better outcomes for the economy and reduce poverty.
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