The Very Idea of Applying Economics: The Modern Minimum-Wage Controversy and Its Antecedents
نویسنده
چکیده
Disagreements among economists rarely breach the academy’s walls. The recent minimum-wage controversy is a significant exception. At first glance, all the sound and fury is a puzzle.1 Minimum-wage effects, at least for current U.S. magnitudes, are small potatoes.2 Of several more important policy concerns—entitlement reform, health insurance, CPI calculation, for example—none has generated anything like the vituperation that has characterized the minimum-wage controversy. But if the minimum-wage controversy is not especially important to the economy, it is very important to economics, and, thereby, to the status of economics as a policy science.
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تاریخ انتشار 2000