Not working out as intended - from Forbes:
As I Predicted, Seattle's Minimum Wage Rise Is Reducing Employment
We’ve been debating the effects of raising the minimum wage for some time now, and specifically there’s been a back and forth between me and various acolytes of Nick Hanauer over what the minimum wage rise in Seattle will do to employment prospects there.
My claim was, by the standards of basic and conventional economics, entirely uncontroversial. A rise in the price of something will lead to people purchasing less of that thing. So a rise in the price of low-skill labor will lead to employers purchasing less of low-skill labor.
The claim is not (and never has been) that raising Seattle’s minimum wage will cause the economy to become some howling wasteland of huddled masses desperately looking for a job. It is that with a higher minimum wage there will be less low-skill employment than without a raise in that minimum wage. And yes, of course the effects of a minimum wage are going to be marginal when laid against all the other things that can happen to a labor market. (But remember that all economics happens at the margins.)
Lots of links to pesky numbers - liberals are all about their narrative and their intentions. They do not see the realities of the situation and they think that if they just wish really hard, the unintended consequences will just dry up and blow away.
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