As we enter another debate about $15/hour, it’s worth preserving this article. And, worth noting that the initial increase in the Biden proposal would still be below $10 per hour. Try living on that.
So often liberals give short-shrift to anything from the Economics Department of my alma mater. That’s hurtful because my experience there — perhaps colored by the naiveté of an undergraduate — was that economics was a science engaged in the search for best answers, no matter where the data led. This conclusion about the minimum wage, written by a University of Chicago star-economist, is consistent with that.