In a hearing of the Senate Committee on Health, Education, Labor and Pensions last week on “indexing the minimum wage,” Massachusetts senator Elizabeth Warren inquired of University of Massachusetts professor economics Arindrajit Dube, “If we started in 1960, and we said that, as productivity goes up — that is, as workers are producing more — then the minimum wage is going to go up the same. And, if that were the case, the minimum wage today would be about $22 an hour. So, my question, Mr. Dube, is what happened to the other $14.75?”Long ago, in an argument about politics, my aunt Ann shocked my Tory parents by suggesting that same $22 figure. The Canadian dollar was not doing well at that point so she was less, um, "outrageous" than Warren I suppose, but thanks, senator, for the memories, and keep fucking with those Tories. Rest in peace Ann.
Monday, March 18, 2013
The Minimum Wage
The Corner highlights an Elizabeth Warren question:
Posted by Substance McGravitas at 7:50 AM