Throughout the summer, one of the questions I have been asked by clients from time to time was about minimum wages. It’s not been a major issue but an increase in minimum wages has from time to time been brought up as a potential trigger for higher unemployment and/or higher inflation. This is interesting to me, because as someone who makes a living keeping up with the latest economics and finance research, it is one example how out-of-date economic beliefs linger on and continue to shape policies long after they have been debunked.
Stuck in the 1980s
Stuck in the 1980s
Stuck in the 1980s
Throughout the summer, one of the questions I have been asked by clients from time to time was about minimum wages. It’s not been a major issue but an increase in minimum wages has from time to time been brought up as a potential trigger for higher unemployment and/or higher inflation. This is interesting to me, because as someone who makes a living keeping up with the latest economics and finance research, it is one example how out-of-date economic beliefs linger on and continue to shape policies long after they have been debunked.