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Source link: http://blog.mises.org/5659/block-debate-on-minimum-wage/

September 22, 2006 by Stephan Kinsella

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Walter Block and Jared Bernstein debate: Should the minimum wage be raised? (8/13/2006, Marty Nemko radio show; Real audio link)

{ 2 comments }

Johnny Upbeat September 22, 2006 at 8:04 pm: Raising the minimum wage is simplistic vote pandering. It hurts the fixed income retired. The effect of the minimum wage increase is to increase the rate of inflation, wiping out the minimum wage increase within a month or two.
Colin Colenso September 23, 2006 at 6:38 am: I would like to have seen Walter raise the point thet there is a strong incentive, re: advancing one’s career, for economists to come up with emperical data that supports minimum wages.

Also, he might have made the argument, that as minimum wages are generally increased in small steps, and that they generally affects only a relatively small segment of the potential workforce, that emperical evidence that could confirm the theory, often becomes clouded by other substantial economic factors that can affect the employment data.

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