Had a rousing and often substantive debate last night sponsored by the group Intelligence Squared
. My partner was the great and eloquent Karen Kornbluh
(listen to the podcast -- I really thought Karen did a great job merging morality, compassion, and the facts of the case); the opposing team was Russ Roberts
and Jim Dorn
. The proposition was "the minimum wage should be abolished." I'll let you guess which side Karen and I took, but the good news: the audience votes at the beginning and end of the debate and team that gets more people to switch to their side wins. We won.
I've pasted in my opening statement below, but allow me to summarize the opposition's argument, half of which is, I think, a fair point from a Libertarian
perspective, though one with which I deeply disagree.
Their first point is that the minimum wage hurts a lot of people. But a) that's not what the research shows (even the bulk of the work that finds some negative impacts shows that the vast majority of affected workers benefit from the policy)…