Thursday, December 5, 2013

A Case Study In the Wonk Gap

A Case Study In the Wonk Gap: "Ever since President Obama endorsed a federal minimum wage hike in his State of the Union speech, progressives have lined up in lockstep support. Economists, bloggers, tv hosts all have come out saying that a minimum wage hike is clearly the right move. You’d be forgiven if you thought that it’s been a very short while since the very existence of a minimum wage was considered controversial.

In the late 1980s, the New York Times advocated for an abolition of the minimum wage. With 25 more years of research, much of it showing that the minimum wage is an inefficient distortion of labor markets, the New York Times reversed position and advocated for a minimum wage hike to historic highs."

'via Blog this'

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