The evidence indicates that even as individuals reach their late 20’s, they work less and earn less the longer they were exposed to a higher minimum wage, especially as a teenager. The adverse longer-run effects of facing high minimum wages as a teenager are stronger for blacks. From a policy perspective, these longer-run effects of minimum wages are likely more significant than the contemporaneous effects of minimum wages on youths that are the focus of most research and policy debate.
Featuring the author Betty Medsger; with comments by Julian Sanchez, Research fellow, Cato Institute; moderated by Gene Healy, Vice president, Cato Institute.
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