tag:blogger.com,1999:blog-3947892804388166400.post8172868073084669164..comments2023-10-23T16:45:52.760-04:00Comments on Alleged Wisdom: Obama's Economist and WagesUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3947892804388166400.post-37295672451453747052011-09-07T03:41:00.212-04:002011-09-07T03:41:00.212-04:00"it is hard to find any clear proof that rais..."it is hard to find any clear proof that raising the minimum wage causes unemployment." <br /><br />If this is true, let's raise the minimum wage to $2,000,000 / hour.<br /><br />The reason for unemployment failing to rise when we raise the min wage may be due to the min wage being risen to a point under the equilibrium wage. It also may be an accounting error. <br /><br />It is also possible that the demand for labor is perfectly inelastic.<br /><br />-Jon AltmanAnonymousnoreply@blogger.com