Speaking of Kash, this post of his on the minimum wage, should be must-reading for anyone who wants to speak in that debate. The neoclassical assumptions of the damage it will wreak (much like the neoclassical assumptions of the gains NAFTA would bring, or liberalization in Latin America, or...) are not persuasive. That's not to say there's no negative employment effect from the minimum wage, but it's so minor as to be almost unnoticeable. Now, it's quite possibly more economically efficient to subsidize, through the EITC, particular classes of low-income workers. But the two policies are not mutually exclusive: You may want to subsidize some workers greatly and boost wage floors somewhat. In any case, read Kash. This stuff's important.
