How many times can you say the same thing over and over and over again?
When it comes to the minimum wage, we may never know the answer.
No matter how often new research is produced showing that low-skilled workers are hurt when politicians cut off the bottom rungs of the economic ladder, politicians persist in pushing for bad policy.
Many state already have increased minimum wages, and the “Fight for $15” crowd wants a nationwide increase.
So let’s explain, for the umpteenth time, why this is misguided.
We have lots of data and anecdotes to review, so let’s begin with some scholarly research from Europe.
Here are some results from a study in Denmark, where the minimum wage increases when workers reach age 18, at which point many of them lose their jobs (h/t: Marginal Revolution).
This paper estimates the long-run impact of youth minimum wages…
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