From The New York Times:
Proponents of raising the minimum wage often point out that the real minimum wage is lower now than it was decades ago. But the federal policy aimed at low-wage work and low-income families has shifted – wisely – away from reliance on the minimum wage and toward a generous earned-income tax credit, which is better focused on poor families.  There is nothing wrong with reducing our reliance on a less effective policy when we have adopted a more effective one…David Neumark is professor of economics and director of the Center for Economics and Public Policy at the University of California, Irvine.

For the full story, please visit http://economix.blogs.nytimes.com/2013/12/09/the-minimum-wage-aint-what-....
 

 

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