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Economics Professor
Mostly Disagree
Regarding our best estimate of the employment effect of a small min wage rise, while many have recently said this is near zero, more say it is substantially negative, and I have asked around and found *no* economist who says that it is substantially positive. Thus, I conclude, any reasonable average of these estimates must be negative, and has been so for a while.
Iconic Economist of 20th Century
Disagree
The programs that are labeled as being for the poor; for the needy almost always have effects exactly the opposite that those that their well intentions sponsors intend them to have. ... The minimum wage law is most properly described as a law saying employers must descriminate against people who have low skills. To employ [a person] at [a higher wage] is to engage in charity. Now there's nothing wrong with charity, but most employers are not in a position [to] engage in that kind of charity.
Nobel Laureate in Economics
Disagree
...no self-respecting economist would claim that increases in the minimum wage increase employment. Such a claim, if seriously advanced, becomes equivalent to a denial that there is even minimum scientific content in economics, and that, in consequence, economists can do nothing but write as advocates for ideological interests. Fortunately, only a handful of economists are willing to throw over the teaching of two centuries; we have not yet become a bevy of camp-following whores.
Nobel Laureate in Economics
Disagree
...this rather iffy [study supporting minimum wages] has been seized upon by some liberals as a rationale for making large minimum wage increases a core component of the liberal agenda. Clearly these advocates very much want to believe that the price of labor ... can be set based on considerations of justice, not supply and demand, without unpleasant side effects. ...[They] not only take the [study] as gospel, but advance a number of other arguments that just do not hold up under examination.
Economics Professor
Disagree
My colleague Dan Klein continues his pathbreaking work on the sociology of the economics profession. He asked petition signatories why they favor increasing the minimum wage. The results are striking, most of all for how far they stand outside traditional economic reasoning... Bernard Wasow is the guy who makes the most sense [who says it's] "A low cost demonstration of concern for low wage workers that causes little damage. Elicits a buy-in by low wage workers to the polity".
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