Description
Discover the groundbreaking insights of Nobel Prize-winning economist David Card and Alan Krueger in their transformative work, 'Myth and Measurement: The New Economics of the Minimum Wage'. This compelling trade paperback challenges the traditional beliefs surrounding minimum wage policies. Delving into pivotal research and compelling data, the authors explore the intersection of social justice and economic theory, debunking long-held myths that suggest higher wages lead to significant job loss for low-wage workers. Their empirical analysis, which includes studies from New Jersey, California, and federal wage hikes, reveals a paradox: increased minimum wage correlates with improved earnings without a detrimental impact on employment levels. This book emphasizes the necessity of reevaluating outdated economic models and equips readers with a deeper understanding of the implications on family earnings, poverty outcomes, and the economic welfare of low-wage earners. Whether you are a student of economics, a policymaker, or simply curious about labor market dynamics, 'Myth and Measurement' is essential reading that reshapes the narrative on minimum wage debates and labor market policies. Dive into this enlightening exploration of minimum wage effects, economic justice, and labor market truths to discover how informed policies can foster equitable growth and combat poverty.