The most popular conspiracy theory in the US today is that American wealth is the result of a steady cabalistic transfer of extant wealth from the poor and middle class to "like 10 people" at the "tippy top." It's provably false but will define the next several election cycleshttps://twitter.com/AOC/status/1127270688925134849 …
I'm very much in favor of experimenting with minimum wage at the local level and using the results to inform broader moves — economic theory only gets you so far
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Seattle is an interesting case: overall income didn't increase significantly bc hours worked were cut; however, experienced workers did see a small increase in income. On the flip side, entering the labor market w/o experience seems to have become trickierhttp://www.econtalk.org/jacob-vigdor-on-the-seattle-minimum-wage/ …
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One plausible consequence of increasing wages — IF it lowers employment — is that "low wage, high employment, more SNAP" becomes "high wage, lower employment, more disability." Unemployment & SSDI aren't easy to disentangle, but the correlation should at least be concerning
End of conversation
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