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December 01, 2006One more thought about the minimum wage
Michael Mandel
Just one more follow-up to my discussion with Robin Hanson about whether there is a consensus among economists about the minimum wage.
Yesterday Greg Mankiw wrote a note about a new survey of economists by Robert Whaples. According to Mankiw, Whaples finds that
One issue that fails to generate consensus is the minimum wage: 37.7 percent want it increased, while 46.8 percent want it eliminated.
Hmmm..
03:41 PM
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Comments
I know economists who favor a minimum wage because they think it will increase total income to low wage workers, even if it reduces their employment. I know of none who favor a minimum wage because they think it will increase employment.
Posted by: Robin Hanson at December 2, 2006 08:49 AM
Fair enough.
Posted by: Mike Mandel at December 4, 2006 08:52 AM
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