Venkatesh Rao

@vgr If employment shrinks, amt paid/driver increases. You need more specific numbers to say if total profit for drivers goes or .

@ctbeiser point is, this is a safety net problem. What do you do with leftover people after market finds new equilibrium at $15/h?

@vgr ah— you're talking about minimum wage. Do you think $10 would cause drops in employment?

@ctbeiser dunno...it's not just demand elasticity effects but wage rigidity effects

@vgr I thought wage rigidity suggested an argument for higher minimums— that it incentivized tendencies towards sub-economically low wages.

@vgr my understanding has also been that consensus for increases below historic inflation-adjusted peaks, employment reduction has been ~0.

@ctbeiser looked into it last year. Came away with the conclusion that there is no real consensus on effects and lots of ambiguity in data

@vgr Have you seen Doucouliagos and Stanley? The asymmetrical funnel graph centered at zero was what pushed me over the line.