Minimum Wage

I have been reading a lot of scholarly articles on the minimum wage. Most of them pooh-pooh the idea that raising the minimum wage will cost jobs. There's a lot of research showing that no job loss will occur, especially when we are at the zero lower bound and caught in a liquidity trap.

I thought about posting links to some of the articles. Here's one blog post among many. Be sure to click on John Schmitt's (pdf) document. Instead of posting many links to scholarly posts, I decided to post a link to a cartoon in today's New York Times. Here is the link to the Strip.