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Title : U.C.-Berkeley Professor Is Incorrect Virtually The Booth Schoolhouse Surveys On Minimum Wages
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U.C.-Berkeley Professor Is Incorrect Virtually The Booth Schoolhouse Surveys On Minimum Wages

H5N1 Don Boudreaux missive of the alphabet to the Wall Street Journal:

U.C.-Berkeley professor Michael Reich argues that the “bulk of the credible evidence” shows that minimum reward cause got solely little negative effects on work (Letters, Oct. 3).  To bolster his declaration he claims that “[a]s shown past times surveys conducted past times the University of Chicago’s Booth School of Business, a bulk of the economic science profession agrees.”

Prof. Reich’s claim most the Booth School surveys is mistaken.  First,

these surveys are of fewer than l economists from a mere 7 universities.  No valid inference most what “a bulk of the economic science profession” believes tin last drawn from such a little as well as non-random sample of economists.

Second as well as to a greater extent than importantly, solely a minority of the economists surveyed past times Booth concord that minimum reward cause got solely little negative effects on employment.  The most recent Booth survey on the minimum wage was conducted inwards September 2015.  In that survey – which asked most the work effects on low-wage workers of raising the hourly minimum wage gradually to $15 – solely 24 per centum of the surveyed economists believed that such a wage hike would cause got no substantial termination on workers’ work prospects, spell 26 per centum of the surveyed economists believed that such a wage hike would indeed substantially decrease low-wage workers’ employment.  (38 per centum of the surveyees were “uncertain.”)  In the previous Booth survey on the minimum wage, conducted inwards 2013, a plurality – 34 per centum – of the surveyed economists agreed that raising the minimum wage would “make it noticeably harder for low-skilled workers to honour employment.”  (32 per centum disagreed spell 24 per centum were uncertain.)

Contrary to Prof. Reich’s claim, the Booth surveys emphatically exercise non break that most economists portion his belief that minimum reward cause got solely little negative impacts on the work prospects of low-skilled workers.

Sincerely,
Donald J. Boudreaux
Professor of Economics
and
Martha as well as Nelson Getchell Chair for the Study of Free Market Capitalism at the Mercatus Center
George Mason University
Fairfax, VA  22030

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