"Ultimately, the minimum wage serves as a transfer payment from low productivity workers to high productivity ones." -Wait, as a high productivity worker should I advocate for a high minimum wage?
But seriously this is an exceptional post. Great job! I do have a question though. What do you think about the use of econometric methods in economics? Should economics really more on casual historical evidence or sophisticated statistical methods?
Sometimes common sense really is the way to go. The supposed "consensus" that minimum wage hikes have zero (or even positive!) effects on workers is one of those "too good to be true"-type deals
RCTs, Epistemology, and the Minimum Wage
I wish I had such excellent writing at my disposal back when I had to debate Con on minimum wage in middle school debate
"Ultimately, the minimum wage serves as a transfer payment from low productivity workers to high productivity ones." -Wait, as a high productivity worker should I advocate for a high minimum wage?
Does anyone know why this paper hasn't been accepted for publication? I would like to be able to cite it
This was well written and very well explained sir maxwell
But seriously this is an exceptional post. Great job! I do have a question though. What do you think about the use of econometric methods in economics? Should economics really more on casual historical evidence or sophisticated statistical methods?
BuT tHe LaBoR MaRkEt iS a MoNoPsOnY
Sometimes common sense really is the way to go. The supposed "consensus" that minimum wage hikes have zero (or even positive!) effects on workers is one of those "too good to be true"-type deals
https://www.bloomberg.com/opinion/articles/2021-01-20/-15-minimum-wage-subverts-biden-covid-19-recovery-plan This article seemed relevant