Reprinted from Alternet by Cody Fenwick on April 5, 2018.
A new study on the minimum wage confirms previous research that found the policy raises wages for low-income workers without reducing total employment. The paper may finally start to convince conservative critics of the minimum wage to reconsider their views.
Economist and blogger Tyler Cowen was one of the first to write about the study. As a libertarian, he’s long been critical of policies like the minimum wage, and the new study hasn’t made him a believer. But he does acknowledge that the new research is “thorough and detailed.” He writes:
“…[O]n the pro-minimum wage side, you should consider that those immediately affected by the wage hike do seem better off, and their higher income in the meantime may itself bring some efficiency-enhancing gains.” …