PUBLIC POLICY: Minimum Wage is Really an Efficiency Wage By Prof. OREN LEVIN-WALDMAN

eHezi Economic Development Leave a Comment

Market “purists” are steadfast in their belief that increasing the minimum wage will lead to lower employment. The standard textbook model holds that as workers lower their wage demands, employers will demand more of their services. A wage floor only prevents workers from accepting lower wages in exchange for opportunities to work. Therefore, fewer workers will be hired, with the …

eHeziPUBLIC POLICY: Minimum Wage is Really an Efficiency Wage By Prof. OREN LEVIN-WALDMAN