The debate on income inequality

 

Douglas Holtz-Eakin, in the Huffington Post! Beware the increased minimum wage  "Raise the minimum wage and combat poverty! That sounds like a great idea, but... not so fast. As it turns out, increasing the minimum wage actually hurts the working poor, is a windfall for affluent families, and raises the barriers facing the unemployed. There is growing evidence that increasing the minimum wage hampers employment for low-skilled workers who need the most help and experience."

 

WaPo; Economists agree: Raising the minimum wage reduces poverty
"One funny part of watching journalists cover the minimum wage debate is that they often have to try and referee cutting-edge econometric debates. Some studies, notably those lead by UMass Amherst economist Arin Dube, argue that there are no adverse employment effects from small increases in the minimum wage. Other studies, notably those lead by University of California Irvine economist David Neumark, argue there is an adverse effect. Whatever can we conclude?"

Not this economist: Thomas Sowell weighs in on the subject: Facing Minimum-Wage Truth   "It is surely no coincidence that, when the federal minimum-wage law remained unchanged for twelve years while inflation rendered the law meaningless, the black teenage unemployment rate — even during the recession year of 1949 — was literally a fraction of what it has been throughout later years when the minimum-wage rate was raised repeatedly to keep up with inflation.

"When words trump facts, you can believe anything. And the liberal groupthink taught in our schools and colleges is the path of least resistance."