2016 Postmortem
Showing Original Post only (View all)What Bernie misses about $15 min wage [View all]
Good article. Again, it makes the contrast for me between Sanders and O'Malley with Clinton. She often seems like the only adult in the room on some of these issues.
"This 8 to 10 percent decline in employment occurred because Puerto Rico was significantly poorer than the rest of the United States; a minimum wage that made sense on the mainland was way too high for the island.
Something similar seems to be happening in the debate over a $15-per-hour minimum wage. A $15-per-hour minimum wage may make sense for the handful of wealthy cities that have adopted it in the past couple of years. But that doesn't mean it's a good idea for the rest of the country, where average productivity is a lot lower. And while Puerto Ricans who lost their jobs were able to look for work in the much larger mainland US economy, given the scarcity of housing in rich coastal cities it's not so obvious that unemployed workers in Kentucky or New Mexico would be able to move to Boston or Seattle in search of work."
http://www.vox.com/policy-and-politics/2015/11/15/9737432/democratic-debate-bernie-sanders-minimum-wage