Minimum Thinking

 

                                                                 Minimum Thinking

Treasury Secretary Janet Yellen supports the proposed hike of the minimum wage, as she noted in her confirmation hearing last week. Yet in 2014 she endorsed the view that a minimum wage hike would lead to significant job loss.

Now, in a time where there are unbelievable and unreasonable pressures against the low wage market, what in the world would motivate a government to take a chance on the minimum wage?

This is the answer to this question: “You can’t count on governments to either ‘follow the economics’ or ‘follow the science,’ because their job is to follow the politics.”