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Reply to "Help me understand the impact of a $15 minimum wage? "
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[quote=Anonymous][quote=Anonymous]Econ 101 tells you that raising the minimum wage will reduce employment in minimum wage jobs, but the actual experience of raising the minimum wage is much more mixed. You can find studies that show it does reduce employment, studies that show it doesn't, and generally economists don't agree on this. I don't think there's a good way to know what will happen. [/quote] This. The conventional wisdom is too simplistic. Higher wages usually mean you can attract better employees and have less turnover, both of which can increase profitability, but not in as easily a quantifiable way.[/quote]
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