Minimum wage pros and cons for workers and small businesses : The Indicator from Planet Money Biden is calling for a $15 federal minimum wage. Is that a good idea for workers and small businesses? Stacey and Cardiff duke it out.

Should We Raise The Minimum Wage?

Should We Raise the Minimum Wage?

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David McNew/Getty Images
(Photo by David McNew/Getty Images)
David McNew/Getty Images

Burr vs Hamilton. The Celtics vs the Lakers. Godzilla vs King Kong. To this list of famous rivalries you can now add: advocates of raising the minimum wage to 15 dollars an hour... versus opponents of raising it.

We have been watching economists duke it out on social media and in their papers, arguing for and against the idea. This is a topic where things can get heated, but it's also a really important and nuanced debate.

To show what's at stake, Stacey and Cardiff take sides on the minimum wage debate. Get ready for a fight over the minimum wage... with maximum rage!

Articles on Minimum Wage:

Characteristics of minimum wage workers (2019), from the Bureau of Labor Statistics

How Increasing the Federal Minimum Wage Could Affect Employment and Family Income, from the Congressional Budget Office

Minimum Wages and Racial Inequality (paywall), by Ellora Derenoncourt and Claire Montialoux

Impacts of Minimum Wages: Review of the International Evidence, by Arindrajit Dube

City Limits: What do Local-Area Minimum Wages Do?, by Arindrajit Dube and Attila S. Linder

Racial Inequality and Minimum Wages in Frictional Labor Markets, by Jesse Wursten and Michael Reich

The Disparate Impact of a National $15 Minimum Wage, by Paul H. Kupiec

Myth or Measurement: What Does the New Minimum Wage Research Say about Minimum Wages and Job Loss in the United States?, by David Neumark and Peter Shirley

The Distributional Effects of Minimum Wages: Evidence from Linked Survey and Administrative Data, by Kevin Rinz and John Voorheis

The Economic Impact of a High National Minimum Wage: Evidence from the 1966 Fair Labor Standards Act, by Martha J. Bailey, John DiNardo, and Bryan A. Stuart

History of Changes to the Minimum Wage Law, from the Department of Labor

Why $15 Minimum Wage is Pretty Safe, by Noah Smith

The Minimum Wage Pushback, by Noah Smith

Minimum Wage Tracker, from The Economic Policy Institute

$15 Minimum Wage Subverts Biden Recovery Plan (paywall), by Michael R. Strain

How Can Price Theory Help Us Navigate the Minimum Wage Debate?, by Brian Albrecht

Pay Is Rising Fastest for Low Earners. One Reason? Minimum Wages., by Ernie Tedeschi

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