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New Jersey is poised to raise its minimum wage. Krispy Kreme is not happy.
http://www.businessweek.com/articles/2013-10-31/over-christies-loud-objections-new-jersey-set-to-raise-its-minimum-wageNew Jersey Gov. Chris Christie, with his typical delicacy, says it would be “stupid” and “truly ridiculous” to insert a minimum wage into the state’s Constitution. But a ballot question to do just that in next Tuesday’s elections has the support of 65 percent to 76 percent of likely voters, according to polls....
The answer to the second question is clearly “no.” As Christie has gently pointed out, amending the state Constitution is the wrong way to decide how much people should get paid. Democrats who control the legislature argue that the amendment route was a last resort after Christie vetoed their bill to raise the minimum wage....
Democrat Cory Booker, the Newark mayor newly elected to the U.S. Senate in a special election, favors the ballot question as does Barbara Buono, Christie’s Democratic opponent almost to certain to lose in the race for governor. “Raise the Minimum Wage,” a project of the National Employment Law Project, is not surprisingly on the “yes” side. The group is also leading campaigns in Massachusetts, Maryland, South Dakota, Alaska, Illinois, Minnesota, Hawaii, and Idaho.
Economists who were once fairly united in regarding minimum wages as an unwelcome interference in labor markets are now divided. One other New Jerseyan who has weighed in is Princeton University economist Paul Krugman, the Nobel laureate and New York Times columnist. In a February column he said research has shown that modest increases in the minimum wage have “little if any negative effect” on employment.
The answer to the second question is clearly “no.” As Christie has gently pointed out, amending the state Constitution is the wrong way to decide how much people should get paid. Democrats who control the legislature argue that the amendment route was a last resort after Christie vetoed their bill to raise the minimum wage....
Democrat Cory Booker, the Newark mayor newly elected to the U.S. Senate in a special election, favors the ballot question as does Barbara Buono, Christie’s Democratic opponent almost to certain to lose in the race for governor. “Raise the Minimum Wage,” a project of the National Employment Law Project, is not surprisingly on the “yes” side. The group is also leading campaigns in Massachusetts, Maryland, South Dakota, Alaska, Illinois, Minnesota, Hawaii, and Idaho.
Economists who were once fairly united in regarding minimum wages as an unwelcome interference in labor markets are now divided. One other New Jerseyan who has weighed in is Princeton University economist Paul Krugman, the Nobel laureate and New York Times columnist. In a February column he said research has shown that modest increases in the minimum wage have “little if any negative effect” on employment.
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