Out of honest curiosity, assuming minimum wage laws are enforced nation wide, applied indiscriminiantly across every type of labor, the same for all individuals and firms, and selected and updated via a political process similiar to what exists today, what reasonable empirical facts about the economy world would have to be true for the minimum wage laws to have net benefit to poor people?
Out of honest curiosity, assuming minimum wage laws are enforced nation wide, applied indiscriminiantly across every type of labor, the same for all individuals and firms, and selected and updated via a political process similiar to what exists today, what reasonable empirical facts about the economy world would have to be true for the minimum wage laws to have net benefit to poor people?
He provided some links to stuff about elasticity of demand for labor. I admit, it didn’t help me much.
x will destroy American democracy (as if it hasn't already been destroyed).