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tldr; * The study uses more precise data than similar prior studies and comes to a sharply different conclusion. * Economists generally want to disbelieve thi
by austincheney 9y ago
tldr;
* The study uses more precise data than similar prior studies and comes to a sharply different conclusion.
* Economists generally want to disbelieve this study, because the results aren't promising, but the method used is largely credible and the data is more precise.
* The impact, according to the study, is that to compensate for the higher wages employers are continuing to hire but only highly skilled candidates thereby displacing the lowest wage earners or "removing the bottom rung".
- tptacek 9y ago"Economists" want to disbelieve the study? Can you support that with evidence? There are definitely liberal economists and conservative economists, but I don't think it's at all clear that the mainstream of economists broadly support a sharply increased minimum wage.
- austincheney 9y agoNope. It is the sensation I (myself) got from reading the article.