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Greenspan on the Minimum Wage

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by

mwkruse
in , , ,

From Greg Mankiws's blog: Greenspan on the Minimum Wage

Larry Mishel, President of the Economic Policy Institute, sent me an email today, asking me to sign a letter of economists endorsing an increase in the minimum wage. Apparently, he already has some high-profile signers, including my undergraduate thesis adviser Alan Blinder and my current Harvard colleague Larry Katz. Despite my fondness and respect for Alan and Larry, I declined.

Alan Greenspan will, I predict, decline as well–a forecast I make based on this old article from the files. …

Comments

3 responses to “Greenspan on the Minimum Wage”

  1. dlw Avatar
    dlw

    It’s not like there hasn’t been evidence of group-think in Economics…
    What they really need to do is advocate for the use of randomization along with minimum wage increases so as to better assess its anti-poverty effectiveness.
    dlw

    Reply
  2. panasianbiz Avatar
    panasianbiz

    I find this a particularly difficult issue because of the implications for minimum wage increases on business and, of course, the implications for employees if no such increases take place. I respect both sides and appreciated your contribution to the debate.

    Reply
  3. Michael Kruse Avatar
    Michael Kruse

    Thanks panasianbiz. I clicked on your webiste. Great stuff. I will be checking back.

    Reply

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