3 ms·
I think you're right, but economics in practice is not always that linear. It is obviously possible to have decent employment results with higher minimums. Othe
by netcan 9y ago
I think you're right, but economics in practice is not always that linear. It is obviously possible to have decent employment results with higher minimums. Other places have this. From the sample range of minimum wages & employment rates that exist in the world, it doesn't seem that minimum wages are a major factor in most cases. That's why the debate keeps coming to the table.
The economic theory is sound, but this is different from other recurring arguments (eg rent controls or fixed pricing generally) in that the real life examples of the theory in play aren't anywhere near as strong.