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So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.
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The party of ideas has become the party of Beavis and Butthead.
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[D]ebt increases that didn't arise either from war or from extraordinary financial crisis are entirely associated with hard-line conservative governments.
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