The Minimum Wage as a Tool for Racial Economic Justice

被引:0
|
作者
Smythe, Andria [1 ]
Hsu, Linchi [1 ]
机构
[1] Howard Univ, Dept Econ, Washington, DC 20059 USA
关键词
FAST-FOOD INDUSTRY; NEW-JERSEY; EMPLOYMENT; YOUTH; LAWS;
D O I
10.1257/jel.20221709
中图分类号
F [经济];
学科分类号
02 ;
摘要
Participants at the 1963 civil rights march on Washington supported minimum wage laws using arguments of economic justice. Many economists at the time argued against the minimum wage based on efficiency concerns rooted in neoclassical theory. After decades of debate, where does the economics profession stand on the justice and efficiency claims of the minimum wage? We discuss the evolution of the minimum wage literature in economics, focusing on racial justice. We highlight recent empirical papers that overwhelmingly support the position of the marchers on Washington while at the same time showing little to no loss of economic efficiency. (JEL D63, J15, J22, J31, J38, K31)
引用
收藏
页码:977 / 987
页数:11
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