It's all just socdems going "the optimal minimum wage would be 15.765 dollars, any more would hurt the workers", as if they actually calculated it and didn't just pull the number out of their ass. Everyone is accusing each other of not understanding "basic economics". Half the people seem to have absolutely no reading comprehension.

Please just go back to cancelling each other for dating someone who is shorter than them.

  • Posad_al_Assad [any]
    ·
    4 years ago

    My bet is that many of the socdems who are still advocating for a minimum wage around $15 are likely relying on Arindrajit Dube's recent literature review on minimum wage effects which suggests that minimum wages generally do not have harmful employment effects if they're below 60% of the median wage:

    In the US, a large body of high-quality research has investigated the impact of minimum wages on employment. Overall, this body of evidence points to a relatively modest overall impact on low wage employment to date. Recent work helped identify how this impact may vary by the level of the minimum wage. Across US states, the best evidence suggests that the employment effects are small up to around 59% of the median wage.

    Economist Dean Baker makes the case that the minimum wage would be over $24 an hour today if it had kept pace with productivity growth since 1968.