Stopping the minimum wage merry-go-round

Over on Crooked Timber and The Atlantic, Kathy G. and Megan McArdle are locked in a full-on, spirited debate on the merits, or lack thereof, of a minimum wage.

It’s getting kind of medieval, with writers and readers hurling graphs – and words like “monopsony” – like rocks from a catapult against massive walls of text.

The collective weight and academic nature of their posts seem to defy easy summary – but Ezra Klein has put together a few accessible paragraphs that are worth taking a few minutes to read.

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