Sunday, May 24, 2015
Sunday news - on minimum wage
Raising the minimum wage does not create unemployment, despite what that Nazi Mankiw is trying to teach us in his first-year textbook.
Empirical evidence (from the US even) proves this, and in any case Mankiw is outright disingenuous (read: he's an outright liar) by asserting that you can use a perfect competition model to find the equilibrium wage rate.
Anyway, here's an article on a fascinating experiment about to unfold throughout the US:
New Yorker - a fascinating experiment is about to unfold.