Arthur E. Sowers
April 6, 2021
The commentary, “Minimum wage hike will hurt more than it helps,” by Ruth Briggs King and Mike Ramone March 30, implied that the increase was too much in too short of a time frame and could cause a loss in the number of jobs. Thus, some people win while others lose. They make reference to at least four studies which support their story. I point out the following shortcomings in their story.
First, an economic study can help answer an economic question, but it is also a fact that such studies can bring out biased conclusions because of the bias of the study investigators. Readers can do their own internet searches and verify this. I have seen references - even in business media - to studies that say job loss does not necessarily follow wage hikes. It’s a subject too big to argue about in this limited space because you have to look at whether the assumptions were good, where the data came from, goals, what was ignored, and who the authors of the studies were.