Nothing gets the day going like an economist sign-on letter in support of an important economic policy. I’m happy to share the news that the two Larrys (Mishel from the Economic Policy Institute and Katz from Harvard) have combined their considerable forces to compile an all-star list of economists in support of a $10.10 minimum wage.
As the letter notes, the economic research indicates that raising the minimum wage would help millions of workers support their families. And, the weight of the evidence is that the employment effects are minimal and, given where our economy is right now, could provide a much-needed boost. It’s the right policy at the right time.
Check it out here: Economist Statement on the Federal Minimum Wage | Economic Policy Institute.