http://journals.democraticunderground.com/Bob%20Geiger/236
Fri Oct 13th 2006
Nobel Economists: Republicans Wrong on Minimum Wage
by Bob Geiger
With the buying power of the Federal minimum wage at its lowest point
in 55 years, five Nobel Prize-winning economists have been joined by
650 of their peers, in calling on the Republican-led Congress to
increase the minimum wage.
Describing the last increase almost 10 years ago as now "fully
eroded," the economists said that they agree with a report written in
1999 by the Council of Economic Advisors declaring that "modest
increases in the minimum wage have had very little or no effect on
employment."
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Harry
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