The minimum wage is far from the most harmful regulation on the books. Why then do I make such a big deal about it? Because it is a symbol of larger evils.
From the standpoint of public policy, the minimum wage is a symbol of the view that "feel-good" policies are viable solutions to social ills: "Workers aren't paid enough? Pass a law so employers have to pay them more. Problem solved." From the standpoint of social science, the minimum wage is a symbol of the myopic view that you can become an expert on X by reading nothing but the leading research that explicitly addresses X: "Does the minimum wage reduce employment? Read the top papers on the minimum wage. Problem solved."
We need to get rid of the minimum wage. But that's only a first step. Our ultimate goal should be to get rid of the errors that the minimum wage has come to represent.
terça-feira, março 12, 2013
Minimum Wage e mais
The Myopic Empiricism of the Minimum Wage por Bryan Caplan: