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My take away has been that it is not clear beyond doubt that higher minimum wage is better in the long run. If both the studies had agreed that it is better, ye
by thetruthseeker1 9y ago
My take away has been that it is not clear beyond doubt that higher minimum wage is better in the long run. If both the studies had agreed that it is better, yes, it makes sense to enthusiastically adopt it. However if studies have results that dont match, then I think there is a reason for caution.
As far as what I understand, only Seattle adopted higher minimum wage, now many people with that minimum wage can get services (may be not directly, but in the supply chain) from other states which don't have the minimum wage which can give the impression that their life has improved. However, if the whole country adopts it, the parameters of that might be different.
I hope somebody sheds a light on wage dilution as well. If somebody was incentivized to learn a skill that pays them 20$ an hour, will that incentive still be there?