$6.15
Not as much as we needed, but better than nothing. Props to Rep. Tom Rukavina for keeping the idea alive in spite of all the dumb-ass time-wastin' going down in the House.
Me, I'm all in favor of a maximum wage. Hey, it's no more preposterous (and much more socially defensible) than letting a half-soused state legislature start chiseling an empty-headed marriage definition into stone.
posted by Mark D. @ 10:57 PM |
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5 Comments:
Way to go! - the DFL drives through another jobs elimination program.
-Censored
Sorry censored, there is no evidence to support any connection between minimum wage increases and unemployment.
Other than all of economics?
Not so much, sorry Mark. You also linked a discredited study -
"Because of concerns about the Card and Krueger data, the Employment Policies Institute examined payroll records for 71 fast-food restaurants and found significant discrepancies between the Card and Krueger data and payroll records for these firms. They found significantly different results when their revised data was used for estimation purposes. Critics of the EPI study argue that the selection process used to generate the Employment Policies Institute sample appears not to be random"
http://www.swlearning.com/economics/policy_debates/increase_minimum.html
This beyond obvious objections about one industry/location etc.
Your statement that there is no evidence is simply false.
-Censored.
North Star Politics
I'll try to keep it simple.
That "study" you referenced, wasn't a study. It was review that looked at other "studies." I hesitate to legitimize them all as studies - for example see Card and Krueger, (not meaningful, sample issues, not reviewed etc.)
However, that's not really important because the citation you made reads ...
"Most studies have found that the entire net effect of an increase in minimum wage results in a slight decrease in employment."
In otherwords, raising minimum wage increases unemployment. If you believe that the Vermont report is correct, we're in agreement.
-Censored
Censored, not sure if you noticed but the article I linked to actually discredits the discreditors of the Card and Krueger data, while acknowledging that the data wasn't perfect. Read it again.
I would be interested to see if there are any studies that show minimum wage increases leading to escalating unemployment. I haven't found any.
Another interesting point: I wonder if minimum wage laws have any effect in discouraging people from going into the black market economy (e.g. drug dealing) or outright criminal activity in order to make money (I think North Star mentioned something along these lines in his deleted quote). Part of me doubts it, because I feel like black market entrepreneurs have a return of greater than $5.15/hour. But who knows? Time to hit the library and look some shit up...
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