3 ms·
The minimum wage in itself doesn't help. [0] Real wage increase is needed. Also tangentially related: https://stayathomemacro.substack.com/p/racism-skews-our-b
by pas 6y ago
The minimum wage in itself doesn't help. [0] Real wage increase is needed.
Also tangentially related: https://stayathomemacro.substack.com/p/racism-skews-our-beliefs-about-whats https://stayathomemacro.substack.com/p/racism-skews-our-beli...
[0] "In the long-run, however, employers have far more flexibility. They can replace labor with capital. They can replace low-skilled workers with higher-skilled workers." - https://www.econlib.org/archives/2017/07/minimally_convi.html https://www.econlib.org/archives/2017/07/minimally_convi.htm... (note, Caplan is a libertarian)