The argument in the floor
The argument in the floor
- November 24, 2012
- Research by David Neumark, economics Chancellor's Professor, is featured in The Economist November 24, 2012
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From The Economist:
Minimum wage laws have a long history and enduring political appeal. New Zealand
pioneered the first national pay floor in 1894. America’s federal minimum wage dates
from 1938. Most countries now have a statutory pay floor—and the ranks are still swelling.
Even Germany, one of the few big countries without, may at last introduce a national
one. And in an era of budget austerity and widening inequality, the political temptation
to prop up wages at the bottom by fiat may well grow... The most prominent critics
of the new research were David Neumark of the University of California at Irvine and
William Wascher of the Federal Reserve. They disputed Messrs Card and Krueger’s findings
for New Jersey and argued that a comparison of different states over time showed that
higher minimum wages hurt jobs.
For the full story, please visit http://www.economist.com/news/finance-and-economics/21567072-evidence-mo....
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