Random Thoughts: On minimum wage laws

NY Times in 1987

Raising the minimum wage by a substantial amount would price working poor people out of the job market.

NY Times in 2014

The weight of the evidence shows that increases in the minimum wage have lifted pay without hurting employment.

Of course, AEI mocked NY Times for this U-turn.
While these debates have merits, I believe small scale experiments can provide sufficient data.
A town in Washington has increased minimum wage to $15, will this lead to job loss or more prosperity, only the time will tell, but hopefully experiments like this will provide us with data points to settle the debate.

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