Monday, March 31, 2014

Alternative economist minimum wage petition

Signers include three Nobelists, Greg Mankiw and Tyler Cowen, among others.

Given all the possible welfare-enhancing policies out there that would obtain nearly universal approbation from the economics community, it is a real shame to see so much political capital being spent on something that does not. Of course, there is information in that fact regarding the objective function being maximized.

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