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Academic studies are the best but to find those it's usually easier to start in mass media and look for serious works cited, then go and track those down. For instance econ 101 says that if you raise the price of something the quantity demanded will go down. So by that if you increase the minimum then employment should go down. But several years ago on NPR (or possibly marketplace) they interviewed some economists who did a study on an actual minimum wage increase in some community. I think their goal was to find out how many jobs would be lost. Turns out there was actually an increase in employment. It could have been a variety of factors but the one theory that made the most sense to me was that the increase in wages meant more people had more money to spend and poor people spend a higher percentage of their income than rich people so, with the increased spending, the economy grew. The growing economy created more jobs. I'll leave it as an exercise to the reader to track down actual studies that support or oppose what I wrote above.
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Nov 6, 2014 10:59
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| # ¿ May 11, 2024 23:25 |
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