Answers Quote by Paul Krugman

“hat are the effects of increasing minimum wages?” asks Paul Krugman. “Any Econ 101 student can tell you the answer: The higher wage reduces…

— Don Watkins

Giving a minimum wage reduces inequality significantly.

— Winnie Byanyima

High mandated minimum wages will throw people out of work and onto the welfare rolls in cases where unemployment benefits exist. When it comes…

— Steve Hanke

Free market economists frequently see minimum wage legislation as mere political intervention. However, there are decent economic theories which show that, under certain circumstances,…

— Ha-Joon Chang

Even a wizard would have a great deal of difficulty repealing the economic law that higher minimum wages reduce employment. Since politicians are not…

— Gary Becker

In working on any one problem, such as higher minimum wages, so many other issues come into play, such as some businesses possibly closing…

— Philip Kotler

Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That's not a statement, it's a definition.

— Milton Friedman

The internal and external ethics of an organization must be the same; you cannot talk about minimum wages for poor people and not pay…

— Aruna Roy

[W]e have a lot of evidence on what happens when you raise the minimum wage. And the evidence is overwhelmingly positive: Hiking the minimum…

— Paul Krugman

Raising the minimum wage and lowering the barriers to union organization would carry a trade-off - higher unemployment. A better idea is to have…

— Paul Krugman

Capitalists have the tendency to move toward those countries in which there is plenty of labor available and at which labor is reasonable. And…

— Ludwig von Mises

In a perfect world, people don't have to move to another country to get a higher wage. Ultimately, they need only be able to…

— Robert J. Shiller