John Green, one of the Vlog Brothers, has taken on the daunting task of explaining why raising the minimum wage is a good thing to people who don’t have more than an introductory college level understanding of economics.
Explaining the usual reasons people oppose raising the minimum wage, Green then goes on to shoot down each reason as myth. He begins, “It turns out that actual labor markets are a lot more complex than the models of labor markets created by college freshmen.”
In 1992, the state of New Jersey raised the minimum wage by 18.8%. Pennsylvania didn’t. According to Green, two bright economists, David Card and Allen Kruger, decided to conduct “employment surveys on either side of the border. What they found is that restaurant employment in NJ actually increased when the minimum wage went up.”
Enjoy a heaping dose of “In Your Face” that you can share with fiscal conservatives over morning coffee and Danish.