What should the minimum wage be?

As protests in New York for increasing the minimum wage made Andrew M. Cuomo to announce a raise, well, many economists would argue that the minimum wage should be abolished entirely and instead we should focus on a more efficient earned income tax credit.

Let me start off by saying that the reasons some people support minimum wage increases are obvious. I think it’s important to acknowledge that the people trying to increase minimum wages are doing so with good intentions. These people are laudable in their intentions but deficient in their analysis. If we could wave a magic wand …read more