{"product_id":"myth-and-measurement-9780691043906","title":"Myth and Measurement","description":"\u003cp\u003eFrom David Card  winner of the Nobel Prize in Economics  and Alan Krueger  a provocative challenge to conventional wisdom about the minimum wage  David Card and Alan B. Krueger have already made national news with their pathbreaking research on the minimum wage. Here they present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. In a work that has important implications for public policy as well as for the direction of economic research  the authors put standard economic theory to the test  using data from a series of recent episodes  including the 1992 increase in New Jerseys minimum wage  the 1988 rise in Californias minimum wage  and the 199091 increases in the federal minimum wage. In each case they present a battery of evidence showing that increases in the minimum wage lead to increases in pay  but no loss in jobs.  A distinctive feature of Card and Kruegers research is the use of empirical methods borrowed from the natural sciences  including comparisons between the \"treatment\" and \"control\" groups formed when the minimum wage rises for some workers but not for others. In addition  the authors critically reexamine the previous literature on the minimum wage and find that it  too  lacks support for the claim that a higher minimum wage cuts jobs. Finally  the effects of the minimum wage on family earnings  poverty outcomes  and the stock market valuation of low-wage employers are documented. Overall  this book calls into question the standard model of the labor market that has dominated economists thinking on the minimum wage. In addition  it will shift the terms of the debate on the minimum wage in Washington and in state legislatures throughout the country.\u003c\/p\u003e","brand":"My Store","offers":[{"title":"Default Title","offer_id":45646933590069,"sku":"ByrdShop_0691043906","price":39.65,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0627\/8139\/0901\/files\/9780691043906.jpg?v=1781682086","url":"https:\/\/atxbooks.com\/products\/myth-and-measurement-9780691043906","provider":"ATX Books","version":"1.0","type":"link"}