How the Minimum Wage Helped Wreck Puerto Rico’s Economy

Apr 25th, 2016 * RECOMMENDED READINGS, Business, Economics, Labor, Minimum Wage Laws, Money Bill B. May 1 min read

Jack Salmon writes:  Puerto Rico is in crisis and drowning in debt. Now it looks like the island’s Development Bank, set up to raise living standards in the territory, will collapse. Congress is rushing to provide some help, but it also needs to consider the effects of federal regulations on the island. Foremost among these is the federal minimum wage.  

 

Why the Minimum Wage Is Bad at Reducing Poverty

Chris Edwards says:   It’s Badly Targeted and Hurts as Much as It Helps California and New York have approved bills to increase their state minimum wages over time to $15 an hour. Presidential candidates Hillary Clinton and Bernie Sanders favor raising the federal minimum wage. But such mandated increases do more harm than good, and they hurt the exact groups of people that policymakers say…

 

Low-Skilled Workers Flee the Minimum Wage

Feb 6th, 2016 Economics, Minimum Wage Laws Robert May 1 min read

Corey Iacono writes: What happens when, in a country where workers are free to move, a region raises its minimum wage? Do those with the fewest skills seek out the regions with the highest wage floors? New minimum wage research by economist Joan Monras of the Paris Institute of Political Studies (Sciences Po) attempts to answer that question. Monras theoretically shows that there should be…

 

Minimum Wage Is Not Only Bad Economic Policy, But Racist As Well

Jan 13th, 2016 * RECOMMENDED READINGS, Minimum Wage Laws Robert May 1 min read

Walter Williams writes: Michael Hiltzik, a columnist and Los Angeles Times reporter, wrote an article titled “Does a minimum wage raise hurt workers? Economists say: We don’t know.” Uncertain was his conclusion from a poll conducted by the Initiative on Global Markets at the University of Chicago’s Booth School of Business of 42 nationally ranked economists on the question of whether raising the federal minimum wage to…

 

Bay Area Job Growth Slows After Minimum-Wage Hikes

Dec 27th, 2015 * RECOMMENDED READINGS, Labor, Minimum Wage Laws Robert May 1 min read

Jed Graham writes: The pace of hiring in the leisure and hospitality sector fell to a five-year low for the Bay Area last month, Labor Department data show. Job gains have slowed to less than half the rate that preceded Oakland’s and San Francisco’s adoption last spring of the highest citywide minimum wage in country. When things don’t make logical sense, one should look at…