4.8 • 1.5K Ratings
🗓️ 3 September 2019
⏱️ 46 minutes
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0:00.0 | When people see something that says studies show that the minimum wage kills jobs, |
0:07.0 | they shouldn't just take it as gospel. |
0:09.5 | If you were to look at all studies, what you would find is that the average employment effect of the minimum |
0:14.8 | wage is actually really small. |
0:16.7 | They don't make these arguments because they're true, they make them because they're the most effective |
0:20.8 | way ever devised to make rich people richer. |
0:23.6 | From the offices of Civic Ventures in downtown Seattle, this is Pitch Fork Economics with |
0:38.3 | Nick Hanauer. |
0:39.8 | It's like Econ 101 without all the BS. |
0:43.0 | I'm Nick Henauer, founder of Civic Ventures. |
0:48.0 | I'm Jasmine Weaver, I'm the Executive Vice President here at Civic Ventures. |
0:57.0 | In this episode, we're not talking about the minimum wage. |
1:00.0 | We're actually going to go deep on how economists study the minimum wage. |
1:05.6 | And that's like a ridiculously wonky thing and probably will test the |
1:11.0 | patients of even our most hardcore listeners, but is so important to understand |
1:17.0 | because how we study the minimum wage is so different from certainly what my intuitions were when I first got into this work. |
1:25.8 | And when you understand how the minimum wage is studied, what the methodology actually is, |
1:32.2 | it becomes really, really clear how easy it is to manipulate |
1:36.3 | that data and how if you aim to you can absolutely show anything you want if you so desire. |
1:44.0 | Absolutely and so when people see something that says studies show that the minimum wage |
1:48.6 | kills jobs, they shouldn't just take it as gospel. |
1:52.0 | Exactly. |
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