When it comes to minimum wage research, most folks join one of two teams. First, Team Econ 101 will tell you, sensibly in my view, that when raise the price of something, people buy less of it. Labor is not exception. Second, Team Common Man says that this is misleading. Sensibly, they argue that firms have slack and customers who purchase services offered by low wage workers, such as fast food, can usually pay a little more. To make things worse, Team Econ 101 and Team Common Man love to cherry pick studies that show why they are right.
So what’s the deal? I recently listened to this very long and extensive interview with Jacob Vigdor, professor of public policy at the University of Washington, that sheds light on this issue. He is in a very special position to discuss minimum wage research because he designed the only major…
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Utopia, you are standing in it! 
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