Doing the Minimum | No Mercy / No Malice
George Stigler, a thirty-five-year-old economist at the University of Minnesota. Inflation had diluted the 40-cent minimum wage, and people were calling for an increase to 60 or even 75 cents an hour, which translates to $9.51 and $11.88 in June 2022 dollars. “Economists have not been very outspoken on this type of legislation,” Stigler wrote. “It
... See moreMatthew Desmond • Poverty, by America
providing a guaranteed basic income
Keith Payne • The Broken Ladder: How Inequality Changes the Way We Think, Live and Die
At least eighty countries with minimum wage standards mandate that officials revisit them every year or so, but not us. The United States should require periodic (and humane) reviews of the minimum wage.
Matthew Desmond • Poverty, by America
Martinelli highlights “the danger that basic income ‘would aggravate the problem of low pay and subsidize inefficient employers,’ leading to a proliferation of ‘lousy’ jobs.” In this scenario, those with good jobs will continue to lead fulfilling lives, now supplemented by universal income, while others will have to combine their UBI with one or mo... See more