Monday, June 26, 2017

If only someone had warned them

WashPost: "A ‘very credible’ new study on Seattle’s $15 minimum wage has bad news for liberals."
The costs to low-wage workers in Seattle outweighed the benefits by a ratio of three to one, according to the study, conducted by a group of economists at the University of Washington who were commissioned by the city. The study, published as a working paper Monday by the National Bureau of Economic Research, has not yet been peer reviewed.

On the whole, the study estimates, the average low-wage worker in the city lost $125 a month because of the hike in the minimum.
It's good to have these little social-engineering experiments in place so we can see how claims of "fairness!" stack up against hard economics.

Extra - Fivethirtyeight: "Seattle’s Minimum Wage Hike May Have Gone Too Far."

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