phaedruss said:
I did actually. I think there is a case to be made for higher wages making employees more productive and such, but that doesn't change the fact that prices do increase because of the minimum wage. He even said that in the video. Although, I wouldn't take that short video as the definitive discussion on minimum wage as he only cites, what?, one or two studies one of which was a very isolated case study. |
Problem with your statement is that they weren't "very isolated." He only mentions the isolated ones specifically. http://escholarship.org/uc/item/86w5m90m#page-1 This was one of the sources (technically he cited Wikipedia) he referred to.
The quote he looked at was this one sampled on Wikipedia: "Study compared 288 pairs of contiguous U.S. counties with minimum wage differentials from 1990 to 2006 and found no adverse employment effects from a minimum wage increase. Contiguous counties with different minimum wages are in purple. All other counties are in white"
edit: I am not claiming any of this to be absolute conclusive evidence. However, I am just pointing out that raising the minimum wage most definitely has its purpose in improving the economy.
