3 ms·
If one is going to use r-word to discuss economic policy, it is more accurate to describe the minimum wage itself as racist. It has consistently produced higher
by Bostonian 6y ago
If one is going to use r-word to discuss economic policy, it is more accurate to describe the minimum wage itself as racist. It has consistently produced higher unemployment rates among blacks than whites. In the past, this was because a high minimum wage created a surplus of candidates for some jobs, letting employers employ racial preferences without cost. Today, given lower black education levels, and in many cases, work experience, a high minimum wage disproportionately prices blacks out of the labor market.