Edward Conard

Top Ten New York Times Bestselling Author

  • “Unintended Consequences offers deep and well-argued analyses on almost every issue.” - The New York Times
  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
  • “Unintended Consequences should be read by anyone who takes for granted the superiority of progressive taxation and has not thought carefully about the trade-offs involved.” - The New Republic
  • “Unintended Consequences is far smarter and more thought-provoking than most economics written for the general public” - Greg Mankiw, Harvard University, Former Chairman of the Council of Economic Advisors
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
  • “Unintended Consequences is full of substance, it is one of the must-read books of the year, and once I finish it I will be giving it a second read through right away.” - Tyler Cowen, Professor, George Mason University
  • “…serious thinking for serious thinkers. …a thought-provoking blueprint for growing middle- and working-class incomes.” - Mitt Romney, former Governor of Massachusetts
  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
  • “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
  • “There are an amazing number of good ideas and interesting points made in Unintended Consequences. The thinking underlying it, and the obvious depth of understanding of the author, are very impressive.” - Steven Levitt, coauthor of Freakonomics; 2004 John Bates Clark Medal
  • “A full-throated defense of economic dynamism.” - The Wall Street Journal
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
Upside of Inequality Oxford Unintended Consequences

AI Summary. Thirty US states have set minimum wages above the federal minimum of $7.25 an hour, with increases coming from inflation-pegged adjustments, new laws or ballot measures in both Democratic- and Republican-controlled states. More workers now live in states with minimums of $15 or higher than in states at $7.25.

Jared Mitovich Wall Street Journal
Date Posted:

8.3 million workers across 19 states will be impacted this year by minimum wage increases due to inflation adjustments, legislative increases, or ballot measures.

Are state minimum wages rising above the federal minimum nationwide?

Core argument: Thirty states have set minimum wages above the federal floor of $7.25 an hour, with increases this year in both Democratic- and Republican-controlled states.

Workers in a mix of Democratic- and Republican-controlled states will see higher hourly pay this year because of automatic inflation-pegged adjustments, new laws or ballot measures. Thirty states have now set a higher minimum wage than the federal minimum of $7.25 an hour. For the first time, more workers now live in states that pay $15 or higher per hour than those that have kept the $7.25 minimum.

Takeaways by Macro Roundup® AI

  1. Thirty states have set minimum wages above the federal floor of $7.25 an hour, with increases this year in both Democratic- and Republican-controlled states.
  2. For the first time, more workers live in states with minimum wages of $15 or higher than in states that have kept the $7.25 federal minimum.
  3. The higher hourly pay stems from automatic inflation-pegged adjustments, new laws and ballot measures.

Related Articles:

  • Did California’s Fast Food Minimum Wage Reduce Employment? — The authors estimate that California's $20 fast food minimum wage, up from $16, raised fast food sector wages roughly 8% relative to the rest of the country while employment fell about 2.7% relative to fast food employment elsewhere in the US. Their median estimate implies 18,000 fewer California fast food jobs than otherwise.
  • Do Minimum Wages Reduce Job Opportunities for Blacks? — The authors find evidence that higher minimum wages reduce employment among low-skill Black workers across every group examined — teens, high school dropouts, and young workers with at most a high school education — with larger effects for Black males, while such effects are not very detectable for whites.
  • “Compensate the Losers?” Economic Policy and Partisan Realignment in the US — The authors argue that partisan realignment by education reflects Democrats' declining supply of "predistribution" policies such as job guarantees, higher minimum wages, protectionism, and stronger unions, which less-educated Americans favor while more-educated Americans prefer taxes and transfers. They estimate changing views of the parties' economic policies explain roughly half the shift.
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