- — Neil Irwin (@Neil_Irwin)Sat, Apr 15 2017 12:57:24There's an emerging body of evidence that certain social welfare programs actually increase labor supply and incomes https://www.nytimes.com/2017/04/15/upshot/supply-side-economics-but-for-liberals.html?_r=0 …
- — Miles Kimball (@mileskimball)Sat, Apr 15 2017 17:03:38@Neil_Irwin My work as a supply-side liberal might be worth a follow-up column. I'd love to have you write about this proposal: https://blog.supplysideliberal.com/post/133246182760/how-and-why-to-expand-the-nonprofit-sector-as-a …
- — Noah Smith (@Noahpinion)Sat, Apr 15 2017 03:48:00Why the good ol' Econ 101 supply-and-demand model just doesn't work for the labor market: http://noahpinionblog.blogspot.com/2017/04/why-101-model-doesnt-work-for-labor.html …
- — Miles Kimball (@mileskimball)Sat, Apr 15 2017 15:41:51@Noahpinion I found efficiency wage models very interesting: https://blog.supplysideliberal.com/post/66651902054/quartz-34-janet-yellen-is-hardly-a-dove-she …
- — Brink Lindsey (@lindsey_brink)Sat, Apr 15 2017 15:22:10@Noahpinion Yes but what's your non-goofy theory if S&D curves don't exist? How does it distinguish btw $100 and $15 min wage?
- — Noah Smith (@Noahpinion)Sat, Apr 15 2017 15:24:38@lindsey_brink I can't say there's a labor market theory I'm really ready to commit to, but models with GE, search, and imperfect competition all have this
- — Brink Lindsey (@lindsey_brink)Sat, Apr 15 2017 15:31:23@Noahpinion OK, just to clarify, you think $15 will have no significant negative employment effects in the long term?
- — Noah Smith (@Noahpinion)Sat, Apr 15 2017 15:34:04@lindsey_brink Honestly, I have no idea. It very well might. I kind of doubt it will in places like Seattle, just because of inflation and agglomeration.
- — Noah Smith (@Noahpinion)Sat, Apr 15 2017 15:41:18@lindsey_brink Oh yeah, I don't think we ever disagreed on policy. I just want to make ppl realize that econ theories can be tossed out by evidence.
- — Noah Smith (@Noahpinion)Sat, Apr 15 2017 15:51:48@jeffspross @lindsey_brink I don't think so. The EITC is a proven way to reduce poverty. https://www.bloomberg.com/view/articles/2016-08-29/expand-the-best-program-to-fight-poverty … Is is exploitative to relieve poverty??? No.
- — Miles Kimball (@mileskimball)Sat, Apr 15 2017 15:53:08
- — Noah Smith (@Noahpinion)Sat, Apr 15 2017 15:56:13
- — Zac Gross (@ZacGross)Mon, Apr 17 2017 06:24:15@mileskimball What is the cost of wage subsidies? Tax dollars right? How does the distortion of income tax compare to the minimum wage?
- — Miles Kimball (@mileskimball)Mon, Apr 17 2017 06:33:07@ZacGross Distortion of income tax falls on those who can bear it. The distortion of minimum wages falls on the poorest of the poor who can't get jobs
- — JD Vance But Good (@MattBruenig)Sat, Apr 15 2017 20:04:35
Minimum Wages vs. Wage Subsidies
byMiles Kimball186 Views