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30 sats \ 3 replies \ @Undisciplined 30 Jul \ on: New Study: California’s $20 Minimum Wage Killed 18,000 Restaurant Jobs econ
There’s no shortage of minimum wage studies. Economists are sometimes reluctant to do new ones just because there’s not much to add.
When Seattle was increasing their minimum wage, they hired economists to study it ahead of time and had them prespecify their empirical approach. That way they can’t adjust to get the desired results.
Well, they didn’t get the desired results. So, the city hired a new team of economists who would.
When Seattle was increasing their minimum wage, they hired economists to study it ahead of time and had them prespecify their empirical approach. That way they can’t adjust to get the desired results. Well, they didn’t get the desired results. So, the city hired a new team of economists who would.
Right, isn’t that just the way economics and any other science works: pre-specify the results and the methods to get the results you are paying for? It also doesn’t surprise me that this took place in, of all places, Seattle. They just can’t get enough communism there, can they/
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The unusual part was agreeing to the prespecified methods ahead of time. I think they did it because they're true believers and couldn't imagine the results going against them.
We all expected the subsequent chicanery.
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Well, I would guess that they are going to find out the hard way that there is no difference between raising the minimum wage from $15/hr to $30/hr or even $500/hr. It all causes the same chaos in the labor market, albeit, there would be more chaos at larger amounts. They must truly hate the people of Seattle to do this kind of thing.
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