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Angus Deaton on the Financial Advantage of College Degrees

Masters in Business

CHAPTER

The Minimum Wage Study Debate

This chapter explores a study examining minimum wage changes in New Jersey and Pennsylvania, revealing surprising results that challenge common assumptions. The discussion covers the effects of raising wages on local economies, debates over stimulating growth versus boosting corporate profits, and the role of monopsony in influencing labor markets. It also delves into the resistance towards acknowledging research findings and the impact of lobbying on national wage policies.

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