Politics and Minimum Wage

by Walter E. Williams, LewRockWell.com There’s little debate among academic economists about the effect of minimum wages.  University of California, Irvine economist David Neumark has examined more than 100 major academic studies on the minimum wage. He reports that 85 percent of the studies, “find a negative employment effect on low-skilled workers.”

Barack Obama, Adam Smith, and the Minimum Wage

by Timothy Taylor, Conversable Economist Posted originally at Conversable Economist, o6 December 2013. In a speech recently on economic mobility, President Barack Obama quoted Adam Smith in support of a higher minimum wage. Given that minimum wage laws were not a hot topic in 1776 when The Wealth of Nations was published, I went looking …