Venkatesh Rao@vgr·Mar 16, 2016Replying to @ctbeiser@ctbeiser point is, this is a safety net problem. What do you do with leftover people after market finds new equilibrium at $15/h?1
Venkatesh Rao@vgr·Mar 16, 2016Replying to @ctbeiser@ctbeiser dunno...it's not just demand elasticity effects but wage rigidity effects1
Venkatesh Rao@vgr·Mar 16, 2016Replying to @ctbeiser@ctbeiser looked into it last year. Came away with the conclusion that there is no real consensus on effects and lots of ambiguity in data1