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The Downside of Minimum-Wage Legislation

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Energized by the now-(in?-)famous study of minimum-wage legislation by David Card and Alan Krueger [2], many proponents of minimum-wage legislation insist that economists’ traditional prediction that such legislation undermines the interests of low-skilled workers is wrong.

This new study by the Russell Sage Foundation supports — albeit quite unintentionally — economists’ traditional prediction [3].  Can you explain why?

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