Ep. 182 Hooray for the Minimum Wage? How Economists Went Off Track
Contra Krugman with Bob Murphy and Tom Woods
In paying his respects to the recently deceased Alan Krueger, author of the widely discussed 1994 Card-Krueger study on the minimum wage, Krugman praises him for changing the way economists think about that subject. According to Krugman/Krueger, the labor market is more complicated than we thought, and increases in the minimum wage appear to have little to no effects on employment. Here’s our reply to all this. Show notes for Ep. 182
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Contra Krugman is a weekly podcast, available on iTunes and Stitcher, that critiques the New York Times column of economist Paul Krugman. Hosts Bob Murphy and Tom Woods belong to the Austrian School of economics, which includes such luminaries as Ludwig von Mises, Nobel Prize winner F.A. Hayek, and Murray N. Rothbard. (Learn more about the Austrian School at our special resource page.) Become more knowledgeable about economics in just 30 minutes a week by listening to Contra Krugman!