Monday, April 24

Minimum Wage again

Stephen Bainbridge says
...it is critical to recognize that the minimum wage debate is mainly a debate about how much working teenagersand twenty-somethings in their first job ought to make. The federal Bureau of Labor Statistics reports that (in 2002):

"Minimum wage workers tend to be young. About half of workers earning $5.15 or less were under age 25, and slightly more than one-fourth were age 16-19."
This is in the course of arguing that "Increasing the minimum wage is...problematic because it makes the choice of work over school marginally more attractive."

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