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, questioned why food prep employees at fast food restaurants should make more than those at the “corner diner” and argued that “policies should treat people in similar economic circumstances the same.” Neumark discussed several often-referenced studies on the matter and claimed they are flawed, ultimately concluding that a 10% minimum wage raise leads to a 2% fall in employment.
These headlines reflect an unsophisticated understanding of an outmoded and simplistic theory: In Econ 101, if you increase the price of labor,...Whether someone prepares burgers, blends smoothies or tosses pizza dough, what determines which California fast food workers will be paid $20 an hour? Minimum-wage advocates parrot the claim that this is a win for fast-food workers. They cite a few studies to argue that those workers will earn more and suffer no job loss, and that poverty will fall. But a growing body of research demonstrates that the small number of studies advocates...
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