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by adjkant
2260 days ago
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> It’s an exciting example of people looking really hard for ways to confirm their priors on both sides. It seems like you're doing that here yourself: > The Seattle minimum wage study showed a reduction in hours and benefits and reduced likelihood of new entrants to the labor market. https://ritholtz.com/2018/10/seattle-studys-shocking-conclus... Minimum wage may have some complexities to be played out and examined, but to go back to the parent, the net harm here seems to be minimal at best, if not helpful over harmful, quite unlike how most feel about eugenics. That comparison, while criticizing the moral compass of economists generally, is quite something. |
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The first two points from MR:
> – The numbers of hours worked by low-wage workers fell by 3.5 million hours per quarter. This was reflected both in thousands of job losses and reductions in hours worked by those who retained their jobs.
> – The losses were so dramatic that this increase “reduced income paid to low-wage employees of single-location Seattle businesses by roughly $120 million on an annual basis.”