Reddit Reddit reviews Minimum Wages (The MIT Press)

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Business & Money
Economic Conditions
Minimum Wages (The MIT Press)
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2 Reddit comments about Minimum Wages (The MIT Press):

u/FortHouston · 2 pointsr/politics

From that article:

>A comprehensive 2008 survey of the empirical literature from David Neumark, a professor of economics at the University of California, Irvine, and William Wascher, an economist for the Federal Reserve, found that, as one would expect, "[M]inimum wages reduce employment opportunities for less-skilled workers, especially those who are most directly affected by the minimum wage.”

From the link embedded by the author in that paragraph:

>Arguing that the usual focus on employment effects is too limiting, they present a broader, empirically based inquiry that will better inform...

An "empirically based inquiry" is not the same as a "comprehensive 2008 survey of the empirical literature" as disingenuously claimed by The Economist.

Indeed, a comprehensive survey of the empirical literature would include the effects of The Fair Labor Standards Act of 1938 which has not screwed up prospects for many teenagers to get jobs.

Additionally, the author of that book blatantly neglects to consider the Recession which is a major factor in employment since 2008.