When does a minimum wage become too high?
Does raising the minimum wage kill jobs? No. Not really. But it could. The hunt is on to find the magic number. Here's the evidence.
Editor's note: This is an excerpt of Planet Money's newsletter. You can sign up here.
It's a bold idea. It's simple. There's a catchy slogan: "The Fight for 15." Big names are lining up behind it: Bernie Sanders, Elizabeth Warren, Kamala Harris. Even Amazon supports it. But what does the evidence say about a $15 minimum wage? Why $15 exactly? And should it be imposed everywhere, from the rural South to booming coastal cities?
Does Anyone Know What They're Talking About?
For a long time, it was pretty much gospel to economists that the minimum wage killed jobs. Economic theory
