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« Some articles on Piketty's book | Main | Laugh or cry, you decide »

April 28, 2014

"Seattle venture capitalist Nick Hanauer, Dori Monson debate $15 minimum wage"

Here. Related: "KTTH Minimum Wage Debate: Ben Shapiro vs Kshama Sawant". Ms. Sawant earned a Ph.D. in economics from my former employer, NC State. Her policy stance should embarrass NCSU economists. Both links courtesy of Patrick Sullivan.

One of the more entertaining arguments advanced by Liberals is that a higher minimum wage would greatly benefit businesses but that business executives are too stupid to realize that. Three pieces that bear on that idea:

Adam Ozimek (Forbes), "Are Retailers Missing A Huge Profit Opportunity By Keeping Wages Too Low?"

Robert VerBruggen (Real Clear Politics), "What if Walmart Hiked Prices and Wages?"

Michael Saltsman (Employment Policies Institute), "Why Subway Doesn't Serve a $14 Reuben Sandwich".

This piece by distinguished economist Richard B. McKenzie is generally helpful in refuting the demand to raise the minimum wage: "Why Are There So Few Job Losses from Minimum-Wage Hikes?"

Finally, a better policy for the poor than raising minimum wages would be to tear down barriers to employment. See, for example, "11 Crazy Laws That Keep You From Getting A Job".


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