Tuesday, July 24, 2012

HuffPost Linked Economist Doesn't Mind If More Poor Become Unemployed By Raising The Minimum Wage

Economist Dean Baker wants higher unemployment by increasing the minimum wage:
Most recent research finds that it has no impact on employment. Even the research that finds job loss shows that the effect is small, suggesting that a 20 percent increase in the minimum wage may reduce employment of young people by around 2 to 3 percent.
Attention Dean Baker: the demand for labor is a downward sloping curve. I guess Dean Baker doesn't mind keeping people out of the labor force.