Raising the floor
Raising the floor
- December 14, 2013
- David Neumark, economics Chancellor's Professor and Center for Economics & Public Policy director, is featured in The Economist December 14, 2013
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From The Economist:
America is going through one of its periodic fits of agony over the minimum wage.
…Advocates for a higher federal minimum wage point out that, in real terms, it is
well below its peak in 1968. That is true, but misleading. First, the big drop came
in the 1970s and early 1980s, not recently. Second, as David Neumark of the University
of California, Irvine, has pointed out, the earned-income tax credit, a federal subsidy
for low-wage workers, makes up for a lot of the losses.
For the full story, please visit http://www.economist.com/news/united-states/21591616-americas-minimum-wa....
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