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jsalvatier comments on A potentially great improvement to minimum wage laws to handle both economic efficiency as well as poverty concerns - Less Wrong
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Comments (74)
Moreover, economics doesn't have a lot to say about the magnitude of these effects. My understanding of the issue is that minimum wage laws seem to have small employment effects (not sure about the sign) and also small welfare effects for poor people. In other words, whether it's a good idea or a bad idea, it's not something worth paying lots of attention to.