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Richard McKenzie: Minimum Wage Proponents -- and Opponents -- Both Have It Wrong

April 10, 2014

Proponents and opponents of higher minimum wages usually argue over the possible impact on the number of jobs. Both sides are focusing on the wrong issue. The biggest impact is reductions to a wide range of paid and unpaid benefits for minimum wage workers, including health insurance, store discounts, free food, flexible scheduling, and job security resulting from higher-skilled workers drawn to the higher minimum wage jobs, says Professor Emeritus Richard McKenzie of University of California-Irvine