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More => Music, Movies, Politics, and Other Cheap Thrills => Topic started by: JimH on August 02, 2022, 09:21:12 am
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Thirty years ago, two Princeton economists, David Card and Alan Krueger, did a survey based on New Jersey raising its minimum wage an Pennsylvania keeping minimum wage the same. They surveyed 410 fast food restaurants on both sides of the border both before and after the change. They found that there was no change in employment. In other words, raising minimum wage did not reduce employment as many have claimed.
In 2021, Card shared the Nobel Prize in Economics. It is thought that Krueger would have shared in it had he not died in 2019.
From Princeton Alumni Weekly, June 2022, page 27, paw.princeton.edu
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Thirty years ago, two Princeton economists, David Card and Alan Krueger, did a survey based on New Jersey raising its minimum wage an Pennsylvania keeping minimum wage the same. They surveyed 410 fast food restaurants on both sides of the border both before and after the change. They found that there was no change in employment. In other words, raising minimum wage did not reduce employment as many have claimed.
In 2021, Card shared the Nobel Prize in Economics. It is thought that Krueger would have shared in it had he not died in 2019.
From Princeton Alumni Weekly, June 2022, page 27, paw.princeton.edu
If your business model collapses after being compelled to pay a higher, but reasonable, minimum wage, your business plan was unsound and unsustainable.