Tuesday, December 6, 2016
Seattle minimum wage update
Invictus - Seattle minimum wage update. Long story short, raising the minimum wage doesn't cause unemployment, because
1. there are feedback effects that mean the higher-paid plebs can now spend more, and
2. employers pay their employees far, far less than their marginal product of labour.
Greg Mankiw would admit this stuff if he was an economist, instead of a rentawhore grifter for the Republican party.