Re:Opioids and the Labor Market (2018)
by jjoonathan on Wednesday March 13, 2019 @12:01AM
(#19375608)
> Make the difficulty of getting employed and earning an income as easy as possible, and the jobs and work will follow.
Why should they? Demand elasticity is empirically very low for minimum wage workers. Lowering minimum wage a small amount does not create jobs, just as raising it a small amount does not eliminate them.
See: the inverted funnel plot of Doucouliagos and Stanley
Why should they? Demand elasticity is empirically very low for minimum wage workers. Lowering minimum wage a small amount does not create jobs, just as raising it a small amount does not eliminate them.
See: the inverted funnel plot of Doucouliagos and Stanley
https://static01.nyt.com/images/2014/02/18/business/economy/...
https://www.ctdol.state.ct.us/lweab/Doucougliagos%20&%20Stan...