The aftermath of Hurricane Harvey has lead to some talk about how rebuilding could boost GDP. Whilst this might be true for a while, the long‐term effects of a storm will almost certainly be negative.
Earlier this month, James Kwak penned an extensive critique for The Atlantic of the Econ 101 view that government‐imposed minimum wage rates lead to job losses. But many of his own arguments for why the Econ 101 story might be misguided appear to be theoretically and empirically doubtful. What’s more, he does not actually show that significant minimum wage hikes would be good for reducing poverty.