The New (Old) Minimum-Wage Debate

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Not as much has changed as advocates would like you to think.

NRPLUS MEMBER ARTICLE A major downside to raising the minimum wage is that it could decrease employment. If employers have to spend more for each person they hire and each hour they assign, they might do less hiring and cut back on hours. But don’t worry, say the policy’s defenders: While older research did tend to find negative employment impacts, newer, better research does not.

That line has taken hold in the public debate, but it’s not quite true. And with Joe Biden’s advocacy of a $15 nationwide minimum wage, it’s prompted some strong pushback from within the economics profession — including allegations that

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