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.


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