Krugman disagrees with himself on minimum wage
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(Redirected from 2013.12.01 Krugman disagrees with himself on minimum wage)
Krugman, "Any Econ 101 student can tell you... the higher wage... leads to unemployment".
~ Aristotle Sabouni
Created: 2013-12-01 |
Facts[edit | edit source]
- Krugman wrote in 1998 review of a book on living wage, "Any Econ 101 student can tell you... the higher wage... leads to unemployment".
- The 2008 economics textbook he co-authored said the same thing. He trashed the Card and Kruger study/book that implied unemployment didn't always rise with minimum wage. [1]
- Yet when writing for the NYT, Krugman champions the living wage that he mocked his whole career.
- Then a year later, slips that France's high unemployment is likely because of their high minimum wage. [2]
- 500 economists, including 3 nobel laureates (Vernon Smith, Edward Prescott and Eugene Fama) wrote an open letter on what a bad idea raising the minimum wage is, which disagreed with Paul's article. Who are you going to believe? Old him and all of them, or new him? [3]
I don't know if he was lying then, or is lying now, but he has to be lying on one of them -- or there was some magic epiphany that's never been explained for this complete change of heart. But it seems to flip-flop depending on whether a Democrat or Republican is advocating for it. If the NYT had a fact checker, they would not let such work get published, or demand he explain his flip of positions.
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🔗 Links
- http://www.independent.org/newsroom/article.asp?id=4824
- https://www.nytimes.com/2013/12/02/opinion/krugman-better-pay-now.html?hp&rref=opinion&_r=3&
- ↑ Card and Kruger: http://web.archive.org/web/20070104114103/https://press.princeton.edu/titles/5632.html
- ↑ France: http://www.coyoteblog.com/coyote_blog/2014/12/krugman-on-the-minimum-wage.html
- ↑ AEI: http://www.aei.org/publication/500-economists-assert-the-irrefutable-laws-of-demand-and-supply-and-slam-the-minimum-wage-hike-as-a-jobs-killer/
- ↑ https://www.thefreelibrary.com/Living+Wage:+What+It+Is+and+Why+We+Need+It.-a021103427
- ↑ https://www.thefreelibrary.com/Living+Wage:+What+It+Is+and+Why+We+Need+It.-a021103427