minimum wage increases tend to eliminate jobs for the marginally employable (teens, severely disabled, etc)

Also it passes through costs as expected, but idk if anyone serious ever thought it wouldn't (in competitive markets at least)

important followup from Tyler Cowen: https://marginalrevolution.com/marginalrevolution/2025/02/minimum-wages-efficiency-and-welfare.html

• maximum economic efficiency comes from having a very low (or no) minimum wage (despite monopsony/monopoly arguments), but the redistributive effects make having one worth it
  • why not just have both efficiency and redistribution, just do them separately 😭