Editor’s Introduction to the Review Symposium on the Book <i>Myth and Measurement: The New Economics of the Minimum Wage</i>
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[Excerpt] Why has Myth and Measurement engendered so much controversy? In part, because it deals with the minimum wage. The minimum wage was the first piece of protective labor legislation adopted at the national level, and proposals to increase the minimum wage invariably lead to heated debate between labor and business interests. When a book co-authored by the then chief economist in the Clinton Labor Department purports to show that, contrary to received wisdom, minimum wage increases do not appear to have any diverse effects on employment, it is predictable that conservative critics will attack its findings.
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minimum wage; employment; unemployment; economic theory
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