The Wage Standard: What’s Wrong in the Labor Market and How to Fix It
The economist whose work overturned the textbook view that minimum wages cost jobs sets out the case that employers hold real discretion over what they pay.
Dube work overturned the textbook consensus that minimum wages cost jobs, and here he sets out the argument underneath it: employers hold real discretion over what they pay, so labour markets are not the frictionless auctions the models assume. Written for a general reader, with the empirical case for a policy that economics spent decades insisting could not work.
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Tyler Cowen
Dube notes his main theme is that employers have discretion in setting the real wage. A good overview of his work in labor economics.
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