Minimum Wages

Paperback | August 13, 2010

byDavid Neumark, William L. Wascher

not yet rated|write a review

Minimum wages exist in more than one hundred countries, both industrialized and developing. The United States passed a federal minimum wage law in 1938 and has increased the minimum wage and its coverage at irregular intervals ever since; in addition, as of the beginning of 2008, thirty-two states and the District of Columbia had established a minimum wage higher than the federal level, and numerous other local jurisdictions had in place "living wage" laws. Over the years, the minimum wage has been popular with the public, controversial in the political arena, and the subject of vigorous debate among economists over its costs and benefits. In this book, David Neumark and William Wascher offer a comprehensive overview of the evidence on the economic effects of minimum wages. Synthesizing nearly two decades of their own research and reviewing other research that touches on the same questions, Neumark and Wascher discuss the effects of minimum wages on employment and hours, the acquisition of skills, the wage and income distributions, longer-term labor market outcomes, prices, and the aggregate economy. Arguing that the usual focus on employment effects is too limiting, they present a broader, empirically based inquiry that will better inform policymakers about the costs and benefits of the minimum wage. Based on their comprehensive reading of the evidence, Neumark and Wascher argue that minimum wages do not achieve the main goals set forth by their supporters. They reduce employment opportunities for less-skilled workers and tend to reduce their earnings; they are not an effective means of reducing poverty; and they appear to have adverse longer-term effects on wages and earnings, in part by reducing the acquisition of human capital. The authors argue that policymakers should instead look for other tools to raise the wages of low-skill workers and to provide poor families with an acceptable standard of living.

Pricing and Purchase Info

$31.20 online
$32.50 list price
In stock online
Ships free on orders over $25
HURRY, ONLY 1 LEFT!

From the Publisher

Minimum wages exist in more than one hundred countries, both industrialized and developing. The United States passed a federal minimum wage law in 1938 and has increased the minimum wage and its coverage at irregular intervals ever since; in addition, as of the beginning of 2008, thirty-two states and the District of Columbia had estab...

William L. Wascher is Senior Associate Director in the Division of Research and Statistics at the Federal Reserve Board.

other books by David Neumark

Sex Differences in Labor Markets
Sex Differences in Labor Markets

Kobo ebook|Jul 31 2004

$72.11

Geschichte Der Jüdischen Philosophie Des Mittelalters
Geschichte Der Jüdischen Philosophie Des Mittelalters

Paperback|Aug 1 2010

$28.23 online$29.95list price(save 5%)
The Philosophy Of The Bible
The Philosophy Of The Bible

Paperback|Aug 17 2010

$43.95

see all books by David Neumark
Format:PaperbackDimensions:392 pages, 9 × 6 × 0.75 inPublished:August 13, 2010Publisher:The MIT PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0262515083

ISBN - 13:9780262515085

Customer Reviews of Minimum Wages

Reviews

Extra Content

Editorial Reviews

This is a superb book, notable for both breadth and depth of coverage, on one of the most fundamental topics in economics...Summing Up: Essential. Economics collections, upper-division undergraduate through professional.