[lbo-talk] What's the deal with conservatives, economists, and the minimum wage?

[Wendy Lyon]

On 1/18/07, joanna <123hop at comcast.net> wrote:
>
> So far as I know there's no data to support the assertion that raising
> minimum wage causes unemployment. I would think it would even things
> out: maybe some jobs are lost, but others are gained because the many
> poor have more money to spend.

Yeah, that was my thesis in the paper I did on this subject for my
Econ101 class.  Actually, it wasn't that things "evened out", it was
that the number of jobs that were gained as a result of increased
spending power exceeded the number of jobs that were lost.

Can't really remember any of the details of my argument .... but it
was made convincingly enough to get an A from a teacher who'd already
told us that raising the minimum wage causes unemployment, anyway ...