, Columnist
Be Careful When Raising Minimum Wages
What happens when pay floors rise is open to debate, so going slow makes sense.
Not all markets are equal.
Photographer: Kevin Galvin/UIG via Getty ImagesMinimum wages are one of the most contentious topics in economic policy. Many states and cities are experimenting with big minimum wage increases, so that there is now a lot of variation across the country:
To many in the news media and in the world of think tanks and activists, being pro- or anti-minimum wage is akin to a religious belief. But even in the world of economics research, there’s plenty of disagreement.