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by ellis-bell
2156 days ago
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the theoretical reasons for not increasing minimum wage is not inflation. it's a decrease in employment. empirically, however, things are sticky and so we have not observed concomitant decreases in employment with (small to moderate) increases in the minimum wage. my other guess (not sure if this is supported by the literature) this can also be because not only is the market sticky, but because workers were being paid a lower wage than their employer could have afforded. |
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