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WEBIn the 1940s, the Chicago economist George Stigler led a backlash against the institutionalist view that the minimum wage could reduce poverty and improve the economy.
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WEBProponents of minimum wage legislation have long argued that an increase in the wages of the lowest paid workers will have, in general, a positive effect on their work ethic, their …
- Half a century ago George Stigler stated that evaluation of minimum wage policy should revolve around two questions: Does such legislation diminish poverty? Are there efficient alternatives? We argue that historically these were and continue to be appropriate questions to ask with respect to this policy. We then replicate and evaluate the analysis ...
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WEBGeorge Stigler said in 1976 that “one evidence of professional integrity of the economist is the fact that it is not possible to enlist good economists to defend...minimum wage …
WEBBy GEORGEJ. STIGLER*. The minimum wage provisions of the Fair Labor Standards act of 1938 have been repealed by inflation. Many voices are now taking up the cry for a higher …
WEBKeywords: Minimum wages, labor market regulations. JEL classi cation: J01, J08, E30. Correspondence: [email protected]. The title of this chapter is, of course, an …
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Minimum Wage: The Nobel Thing to Do | Chicago Policy Review
WEBMay 21, 2014 · In this article, we summarize three essays by Nobel laureates Joseph Stiglitz, George Stigler, and Dale Mortensen, offering competing explanations for why …
WEB1938, the Fair Labor Standards Act imposed a federal minimum wage apply-ing to most employees working in interstate commerce. The original mini-mum hourly wage was $. …
Another Look at the Economics of Minimum Wage Legislation
WEBSep 1, 2014 · This article revisits the two questions that future Nobel Prize winner, George Stigler, posed to the economics profession in his seminal 1946 American Economic …
WEBGeorge Stigler, writing in 1946 after the passing of the Fair Labor Standards Act, argued that an effective minimum wage law would have two direct impacts; firstly the …
(PDF) The economics of minimum wage legislation revisited
WEBJan 1, 1993 · The authors track the household incomes of low-wage workers and find that a radical transformation has occurred in the half century since the passage of the original …
The Economics of Minimum Wage Legislation Revisited
WEBIn his seminal article “The Economics of Minimum Wage Legislation” (1946) George Stigler used what are now standard resource misallocationand loss ofemployment arguments to …
WEBA similar debate erupted after the federal minimum wage was enacted in 1938. The main protagonists at that time were George Stigler (1946) and Fritz Machlup (1946), …
WEB1946. "The Economics of Minimum Wage Legislation." A.E.R. 36 (June): 358-65. Also in Readings in Introductory Economics, edited by John R. McKean and Ronald A. Wykstra. …
Putting the Minimum Wage Debate in a Historical Context: Card …
WEBHalf a century ago George Stigler stated that evaluation of minimum wage policy should revolve around two questions: Does such legislation diminish poverty? Are there efficient …
The Minimum Wage and Monopsony - Econlib
WEBFeb 22, 2013 · As George Stigler (1946) pointed out in his seminal article on minimum wages, if the employer has monopsony power in the labor market, a skillfully set …
Why Raising the Minimum Wage Is a Poor Way to Help the …
WEBJan 1, 2004 · Minimum wage increases significantly reduce the employment of the most vulnerable groups in the working-age population - young adults without a high school …
Interview with George Stigler - Reason.com
WEBJan 1, 1984 · In that first address, Stigler detailed the counterproductive consequences of rent controls. He then exposed how minimum-wage laws create unemployment and …
WEBRejoinders by Professor Machlup and Professor Stigler follow. Professor Lester's statement. Two recent papers' in the Review raise the question whether marginalism …
THE ECONOMICS OF MINIMUM WAGE LEGISLATION by …
WEBThe document summarizes George J. Stigler's analysis of the economics of minimum wage legislation. Stigler argues that minimum wage laws are unlikely to reduce poverty …
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The economics of minimum wage legislation - EconBiz
WEBYear of publication: 1946. Authors: Stigler, George J. Published in: The American economic review. - Nashville, Tenn. : American Economic Assoc., ISSN 0002-8282, …
WEBLos Angeles Minimum Wage Rate Effective July 1, 2024 $17.28 PER HOUR All Employers are required to pay Employees a new minimum wage according to the Los Angeles …
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$16 - Los Angeles
WEBAll Employers are required to pay Employees a new minimum wage according to the Los Angeles Minimum Wage Ordinance. The minimum wage rate will be adjusted every …
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