David Henderson hosted recently at the Library of Economics and Liberty a guest blog post written by Professor Jonathan Meer of Texas A&M University of the hidden costs of the minimum wage. The article is particularly relevant given an increasing number of voices among congresspeople calling for an unprecedented increase in the Federal minimum wage. But what makes Meer's piece even more interesting is that unlike many of the op-eds we see in newspapers these says, his opinions are backed by making reference to recent scholarly papers and articles written by academic researchers as well as his own work. It is very much worth a read because, as he concludes at the end,
We should never minimize the struggles of low-income families to get ahead. But good intentions are no substitute for good policy. Minimum wage proponents mean well, but the unintended consequences hurt the worst-off the most.You can find the rest of it here.
