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Obama’s Minimum Wage Plan

FletchforFreedom Wrote: Feb 18, 2013 3:51 PM
Indexing it to inflation won't shut anyone up and it prevents the economy from growing beyond the damage. If it can't be abolished, it must be alowed to stagnate to irrelevancy.

Economic research has only a tenuous relationship to economic policymaking in Washington. President Obama’s new proposal to raise the federal minimum wage from $7.25 to $9.00 is a case in point. It would bad for workers and the economy, but the administration seems to be ignoring the large body of theory and evidence on the issue.

Labor economist Mark Wilson discusses the economics of the minimum wage in an essay on Downsizing Government. Here are a few highlights:

There is no free lunch when...