Scan barcode
A review by kecordell
Economism: Bad Economics and the Rise of Inequality by James Kwak
4.0
Minimum Wage
- no connection between minimum wage and unemployment
- $10.10 minimum wage would reduce employment by 500,000 jobs, but increase incomes for most poor families (900,000 people would move above the poverty line)
- a 10% raise in minimum wage reduces the number of families living in poverty by 2-3 percent.
- reduce inequality by lowering the pay gap
Marginal Utility and Taxes
- optimal tax rate on the very rich is 73% (Diamond and Saez)
- no connection between minimum wage and unemployment
- $10.10 minimum wage would reduce employment by 500,000 jobs, but increase incomes for most poor families (900,000 people would move above the poverty line)
- a 10% raise in minimum wage reduces the number of families living in poverty by 2-3 percent.
- reduce inequality by lowering the pay gap
Marginal Utility and Taxes
- optimal tax rate on the very rich is 73% (Diamond and Saez)