Rex Huppke: The argument against raising minimum wage
Rex Huppke: The argument against raising minimum wage
- March 11, 2014
- Research by David Neumark, economics Chancellor's Professor and Center for Economics & Public Policy director, is featured in the Sacramento Bee and HeraldOnline.com March 11, 2014
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From the Sacramento Bee:
If "fairness" is the buzzword for those seeking to increase the federal minimum wage,
the opposition's preferred term is "blunt instrument." That describes how they view
the minimum wage as a means of addressing poverty: It's like chipping away at a problem
with a hammer when more precise tools are at hand… But a widely cited 2006 study by
David Neumark, an economics professor at the University of California, Irvine, and
William Wascher, deputy director of research and statistics at the Board of Governors
of the Federal Reserve System, examined the literature on this issue and found "the
weight of the evidence points to disemployment effects." It also found that "minimum
wages may harm the least skilled workers more than is suggested by the net disemployment
effects estimated in many studies."
For the full story, please visit http://www.sacbee.com/2014/03/11/6226733/rex-huppke-the-argument-against....
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