Tyler Cowen presents a very compelling way to think about the economics of minimum wage laws.

It is exactly the kind of analysis that a physical scientist would do. It is the kind of analysis that any real scientist ought to do. It is the kind of analysis that very few (if any) social scientists do (in part because they cannot, and in larger part because they do not). Feynman would be happy, I think.

It is the kind of discussion that Ethan Fisher and Chuck Silberman would have (though, they might not come up with the answer). The symmetries (or asymmetries) that Cowen suggests exist are exactly the kind of things that lead to sound reasoning.

-JD Cross

Thanks to Don B for posting.

 

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