Monday, February 18, 2013
Chapter 6 Revisited
As I mentioned on my last post (my bad), chapter 6 was very interesting. I still stand behind everything I said, and would like to add that I would like to see the newest figures for average income difference between men and women in not only America but in all the industrialized countries. Also, I am curious as to whether or not President Obama has addressed this issue in recent speeches. On a final and somewhat unrelated note, I heard somewhere (not sure where exactly) that one loophole that employers have and most likely will use again to counter a minimum wage increase is hour reduction. I am curious to see if Obama addresses this issue, if it even becomes one (it probably will, us Americans are a caniving bunch!)
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As with most things about the economy, economists have different predictions about the impact of raising the minimum wage. Economists from different theoretical traditions predict different things. Here is summary of what could happen.
ReplyDeletehttp://www.washingtonpost.com/blogs/wonkblog/wp/2013/02/14/why-economists-are-so-puzzled-by-the-minimum-wage/