The CBO report on the minimum wage

Spin it as you wish, we should not have a major party promoting, as a centerpiece initiative and for perceived electoral gain, a law that might put half a million vulnerable people out of work, and that during a slow labor market.

And the American people will never understand the ins and outs of the monopsony debate and the like.  Overall, what kind of useful lesson is being taught here about the determinants of wages and prosperity?

I’m sorry people, but those are the bottom lines on this one.


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