And while the gains of the higher wage is more money for some low end workers, the overall economic pie actually gets smaller in the bargain — even if only “minimally” so — because of the lost output of the unemployed. Clearly some portion of whatever consumption increase the wage beneficiaries receive comes directly out of the mouths of those who lose jobs.

Card and Krueger did make one thing clear that no minimum wage advocate ever mentions: they reported no evidence that the higher wage reduced poverty.

And I can’t remember the last time I saw even a liberal politician suggesting that some impoverished nation come up with a decent minimum wage to fight its own poverty.

The only good thing about the minimum wage is that the people it hurts the most are implied to be too ignorant to know why — and will usually be inclined to vote for the very people who are screwing them.

I’m wondering how one becomes a part of your blogroll?

Thanks!