Economists for a Higher Minimum Wage
By Arnold Kling
Daniel B. Klein and Stewart Dompe want to know why some economists favor raising the minimum wage. Here is one example:
Arindrajit Dube: Increased income (and reduced inequality) has broad effects throughout society and polity; this includes (but is not limited to) increased self worth, increased ability to use added time to spend with kids, attend community college, etc., from an income effect.
…Paul Swaim: Given the very high value placed on self-sufficiency in the US, I think it is important that adults working full time can earn enough to make a substantial contribution to supporting a decent living standard and take pride in their status as workers. Put differently, people playing by the rules should not feel like total losers (or be considered as such by their fellow citizens). The minimum wage can probably make a modest
contribution to approaching this objective.
These folks are assuming (a) that a rise in the minimum wage helps poor people and (b) that the issue is important to adults trying to support a family. If those are their beliefs, then they appear to suffer from economic illiteracy. Russ Roberts occasionally tries to educate journalists about how the economy works. Maybe he needs to hold seminars for economists.
Pointer from Tyler Cowen, who pulls many more quotes.