3 ms·
Here are the responses of the top economists on the effect of the minimum wage increase: https://www.igmchicago.org/surveys/15-minimum-wage/ https://www.igmchi
by avrionov 6y ago
Here are the responses of the top economists on the effect of the minimum wage increase:
https://www.igmchicago.org/surveys/15-minimum-wage/ https://www.igmchicago.org/surveys/15-minimum-wage/
They seem quite divided on both questions.
- pradn 6y agoWell, the thing is that most people who are below the poverty line do not work and should not work. Of people that are poor, 80% are nonworkers. https://www.peoplespolicyproject.org/wp-content/uploads/2017/09/Screen-Shot-2020-10-28-at-12.24.15-AM.png https://www.peoplespolicyproject.org/wp-content/uploads/2017... Nonworkers are children, the elderly, disabled, students, carers, nonelderly retired, with unemployed being just 1.2% of that group. https://www.peoplespolicyproject.org/wp-content/uploads/2017/09/Screen-Shot-2020-10-28-at-12.24.26-AM.png https://www.peoplespolicyproject.org/wp-content/uploads/2017... If in the worst case more people are unemployed b/c the minimum wage increase, the poverty rate would increase. But the converse wont be true - even if the economy is booming and unemployment is zero, these folks are still going to be poor