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army1987 comments on Separating the roles of theory and direct empirical evidence in belief formation: the examples of minimum wage and anthropogenic global warming - Less Wrong Discussion

24 Post author: VipulNaik 25 June 2014 09:47PM

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Comment author: [deleted] 26 June 2014 04:29:52PM 2 points [-]

"Minimum wage caused unemployment has models which explain it and data which confirm the models. And is is good as a practical matter, because it is predicted to increase automation in low skill fields, which will increase yields of particular services, so unlike the opposing party, we don't need to keep the minimum wage low."

That's pretty much what Yvain said in “The death of wages is sin”.