Relevant and even prescient commentary on news, politics and the economy.

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minimum wages

…a legislated increase happened. Take the example of the federal minimum wage. Its current value of $7.25 came into effect in 2009. Today’s inflation-adjusted value of the federal minimum wage…

These numbers don’t add up

…Second, its measures are based on prices, not values. An innovation that lowers the price of phone calls, for example, appears to reduce the benefit from calls—and totally misses the…