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What is Needed Now — A Civil, Subtle and Nuanced Discussion of Minimum Wage That is Evidence Based By Guided By Price Theory

Summary:
Russ Roberts has a highly recommended discussion with Jacob Vigdor on the Seattle Minimum Wage and its consequences.  I am always amazed at how Russ consistently raises the level of discourse through EconTalk. Of course, to folks familiar with the nuances of price theory the multiple margins of adjustment has been a theme for decades.  See this earlier discussion by Walter Wessels, or Douglas Glen Whitmann. And, of course, Deirdre McCloskey argues this in her classic Price Theory text.  So here is the lesson if you ask me ... be civil, ask yourself tough questions, and above all learn PRICE THEORY.

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Russ Roberts has a highly recommended discussion with Jacob Vigdor on the Seattle Minimum Wage and its consequences.  I am always amazed at how Russ consistently raises the level of discourse through EconTalk.

Of course, to folks familiar with the nuances of price theory the multiple margins of adjustment has been a theme for decades.  See this earlier discussion by Walter Wessels, or Douglas Glen Whitmann.

And, of course, Deirdre McCloskey argues this in her classic Price Theory text.  So here is the lesson if you ask me ... be civil, ask yourself tough questions, and above all learn PRICE THEORY.

Peter Boettke
Peter Joseph Boettke (January 3, 1960) is an American economist of the Austrian School. He is currently a University Professor of Economics and Philosophy at George Mason University; the BB&T Professor for the Study of Capitalism, Vice President for Research, and Director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at GMU.

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