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A wonky theory could explain why the minimum wage is stuck at $7.25 an hour

A wonky theory could explain why the minimum wage is stuck at $7.25 an hour
hhoffower@businessinsider.com (Hillary Hoffower,Nick Lichtenberg)
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The federal minimum wage is still $7.25. Lucy Nicholson/Reuters
Politicians still can t agree on hiking the minimum wage from $7.25 to $15.
The economic theory of Optimum Currency Area (OCA) might explain why.
The US is commonly thought of as an OCA, but $1 goes a lot further in Mississippi than it does in Hawaii.
The federal minimum wage is currently at a standstill.
President Joe Biden campaigned on raising the minimum wage from $7.25 to $15. But the $15 proposal was struck from his stimulus plan for not meeting the rules of budget reconciliation. Progressives have long been campaigning to hike the minimum wage, but have met with opposition from Republicans as well as more moderate Democrats. It hasn t been raised since the last time Biden was in office, a ....

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A Wonky Theory Could Explain Why the Minimum Wage Is Stuck at $7.25

Lucy Nicholson/Reuters
The economic theory of Optimum Currency Area (OCA) might explain why.
The US is commonly thought of as an OCA, but $1 goes a lot further in Mississippi than it does in Hawaii.
The federal minimum wage is currently at a standstill.
President Joe Biden campaigned on raising the minimum wage from $7.25 to $15. But the $15 proposal was struck from his stimulus plan for not meeting the rules of budget reconciliation. Progressives have long been campaigning to hike the minimum wage, but have met with opposition from Republicans as well as more moderate Democrats. It hasn t been raised since the last time Biden was in office, as vice president in 2009. ....

United States , West Virginia , Madison Hoff , Arindrajit Dube , Mitt Romney , Juliana Kaplan , Robert Mundell , Joe Biden , Will Wilkinson , Kyrsten Sinema , Joe Manchin , Felix Koenig , Ben Zipperer , University Of Massachusetts , Carnegie Mellon University Heinz College , Progressive Policy Institute , European Union , Us Bureau Of Economic Analysis , Nobel Prize Winning , Great Financial Crisis , Economic Analysis , Carnegie Mellon University , Heinz College , Budget Calculator , Minimum Wage , Minimum Wage Increase ,

An Economist's Case for Minimum Wage Hikes

An Economist's Case for Minimum Wage Hikes
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Ensuring the minimum wage keeps up with economic growth | Opinion

Ensuring the minimum wage keeps up with economic growth | Opinion
Updated Feb 28, 2021;
Posted Feb 28, 2021
It may seem like a lot, but it’s not the most important change in the bill.
(AP Photo/J. Scott Applewhite)
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Supporters argue a higher minimum wage would translate into higher incomes for millions of low-wage employees, such as restaurant waiters, retail salespeople and child care workers, and thereby lift a lot of people out of poverty. Opponents claim it would hurt businesses and lead to a lot of job losses.
As an economist who studies labor markets and income inequality, I believe both claims exaggerate the impact and miss a key point of what the minimum wage is meant to achieve. The current debate offers a perfect opportunity to restore the wage floor’s original purpose, as laid out by FDR over 70 years ago. ....

United States , New Hampshire , Franklin Delano Roosevelt , Felix Koenig , Carnegie Mellon University , Congressional Budget Office , Fair Labor Standards Act , New Deal , Social Security Act , Temporary Aid , Needy Families , Assistant Professor , Carnegie Mellon , Creative Commons , ஒன்றுபட்டது மாநிலங்களில் , புதியது ஹாம்ப்ஷயர் , பிராங்க்ளின் டெலானோ ரூஸ்வெல்ட் , ஃபெலிக்ஸ் க்க்நிக் , கார்னகி மெலந் பல்கலைக்கழகம் , காங்கிரஸ் பட்ஜெட் அலுவலகம் , நியாயமான தொழிலாளர் தரநிலைகள் நாடகம் , புதியது ஒப்பந்தம் , சமூக பாதுகாப்பு நாடகம் , தற்காலிகமானது உதவி , தேவைப்படுபவர் குடும்பங்கள் , உதவியாளர் ப்ரொஃபெஸர் ,

Felix Koenig, Author at NationofChange

Felix Koenig, Author at NationofChange
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Felix Koenig , Professor Of Economics At Carnegie Mellon University , Assistant Professor , Carnegie Mellon , ஃபெலிக்ஸ் க்க்நிக் , ப்ரொஃபெஸர் ஆஃப் பொருளாதாரம் இல் கார்னகி மெலந் பல்கலைக்கழகம் , உதவியாளர் ப்ரொஃபெஸர் , கார்னகி மெலந் ,