Friday, June 2, 2017

A report that analyzed every minimum-wage hike since 1938 should put a bunch of nonsense ideas to rest


From the fear-mongering headlines marking passage of $15 statutes in New York and California, you would think nobody ever dared raise the minimum wage before. "Raising minimum wage risky," the Lexington (Kentucky) Herald-Leader tersely warned. "Raising minimum wage hurts low-skill workers," the Detroit News bluntly declared. "Even left-leaning economists say it's a gamble," Vox solemnly cautioned. Nonsense. We have been raising the minimum wage for 78 years, and as a new study clearly reveals, 78 years of minimum-wage hikes have produced zero evidence of the "job-killing" consequences these headline writers want us to fear.

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