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Historical
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Title: It's a Historical Fact That Minimum Wage Laws Are Rooted in Racism
Source: The Take
URL Source: https://jjmilt.substack.com/p/its-a-historical-fact-that-minimum
Published: Jul 31, 2023
Author: Jon Miltimore
Post Date: 2023-07-31 22:23:24 by Charles_Byrd
Keywords: None
Views: 72

Minimum wage laws are suddenly vogue. In recent years, states across the country have passed $15 wage floors, while others continue to explore the issue.

The age-old lesson of Econ 101, that, to quote Nobel Prize-winning economist Paul Krugman in 1998, “the higher wage reduces the quantity of labor demanded, and hence leads to unemployment,” is no longer considered rock solid.

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