Annie Lowrey, writing in The Atlantic reports that what many people believe would be the effects of raising the minimum wage turns out to be mistaken.
…minimum wages have a way of screwing with economic intuition, and complicating the simple logic of supply and demand. The benefits of a $15 minimum would greatly outweigh the costs. More than that, new economic evidence suggests that those costs might be small ones anyway: Even in low-wage, low-density, low-cost-of-living parts of the country, a $15 minimum might not be a death knell for small businesses or a job killer for low-wage workers.
I’m shocked! Shocked!
The Counterintuitive Workings of the Minimum Wage – The Atlantic
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