Acton Institute Powerblog Archives

Post Tagged 'William Poole'

How to Prove That Everyone Knows Raising Minimum Wages Increases Unemployment

Yesterday I mentioned that translating economic principles into intuitive concepts is one of the most urgent and necessary tasks to prevent such evils as harm to the poor. Today, William Poole provides an excellent example of what is needed with his “common-sense thought experiment” on minimum wage increases: Suppose Congress were to enact a minimum wage $50 higher than the current one of $7.25 per hour. Continue Reading...