Re: Heterodox Economics
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Card, a highly esteemed economist at the University of California, Berkeley, caught flak for his heresy not on trade but on the minimum wage. In 1994 he conducted a study to see whether an increase in the minimum wage in New Jersey had the negative effect on employment that basic neoclassical theory would predict. He found it didn't.
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Hasnt this study been shown several times to be poorly done? Didnt they just phone up some companies and ask them how the minimum wage was going to affect the businesses highering practices? When the pro minimum wage camp constantly points to this one single study to prove their point, I get very skeptical of their position.
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