A new study indicates that “a 30% rise in the minimum wage means that 1 million people lose either their jobs or even the opportunity to work.” [Tim Worstall, James Pethokoukis] This and all other studies should be taken with caution, of course: “[We’ve] been talking about [it] confidently, as if we know for sure what will happen when these laws take effect. In fact, it’s very hard to study what happens when we raise the minimum wage.” [Megan McArdle] David Henderson on sneakily pro-union Los Angeles hotel minimum wage enactment [EconLib] Donald Boudreaux corrects The Guardian [Cafe Hayek] And Borderlands Books in San Francisco, threatened with closure after the city’s electorate voted in a minimum wage increase, may survive if it can get enough fans and customers to cover some of its costs in a sponsorship plan.
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