What Do Economists Think about the Minimum Wage?

The playwright George Bernard Shaw once said that if you laid all the world’s economists end to end, they would not reach a conclusion. President Truman allegedly once asked for a one-handed economist, who would be unable to say “on the other hand…” Economists richly deserve such jokes. But there are still issues where economists overwhelmingly agree, regardless of politics, ideology, or methodology. One of those issues is the minimum wage. Economists are far more likely to be against it than the general public.

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