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$15 minimum wage: Bad news from Seattle should give Minneapolis pause

As price of labor went up, people bought less of it — as standard economic theory predicts. This op-ed appeared June 29, 2017 in the Star Tribune. The Minneapolis City Council’s ordinance raising the minimum wage to $15 goes up for a vote on Friday. During a long and often emotional debate, supporters of the ordinance have often pointed to the example of Seattle, where the minimum wage was raised from $9.47 to $11 per hour in 2015 and to $13 per hour in 2016. But a new study suggests that Seattle’s experience might be a warning rather than an example. Economists at the...

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Major new study jolts liberals out of Fantasyland on $15 minimum wage

Steven Hayward has written about how liberals enjoy hiking cigarette and alcohol taxes so less is consumed but somehow totally fail to understand economic basics like supply and demand and price sensitivity when it comes to raising the minimum wage. The much needed reality check is delivered via a game-changing new study described in yesterday’s Washington Post story, “A ‘very credible’ new study on Seattle’s $15 minimum wage has bad news for liberals”: When Seattle officials voted three years ago to incrementally boost the city's minimum wage up to $15 an hour, they'd hoped to improve the lives of low-income workers. Yet...

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