i would often get the answer because we have a minimum wage and they don't. There's not a lot of evidence for it. Iht, but the next argument you audhere is that we have unions and they don’t. But when you're comparing mexico to the united states, or peru to tor states, there are so much first and much more important first order factors.
Daron Acemoglu, the Elizabeth and James Killian Professor at the Massachusetts Institute of Technology, talks with EconTalk host Russ Roberts about his new paper co-authored with James Robinson, "The Rise and Fall of General Laws of Capitalism," a critique of Thomas Piketty, Karl Marx, and other thinkers who have tried to explain patterns of data as inevitable "laws" without regard to institutions. Acemoglu and Roberts also discuss labor unions, labor markets, and inequality.