Home
/
RELIGION & LIBERTY ONLINE
/
Economists agree: Don’t raise the minimum wage to $15
Economists agree: Don’t raise the minimum wage to $15
May 13, 2026 1:42 AM

When es to policy choices, professional economists are famous for being overly circumspect. President Harry Truman plained, “Give me a one-handed economist! All my economists say, ‘on one hand . . . on the other.’”

There are some areas, though, where basic economic theory is so obvious that it’s not hard to find a majority of economists to agree. A prime example is the popular, but misguided, proposal to raise the minimum wage to $15.

A recent survey of 197 U.S. economists found that more than two-thirds (88 percent) think an acceptable federal minimum wage should be less than $15, with 74 percent outright opposing raising it to $15 (strongly oppose, 61 percent; oppose somewhat, 13 percent).

The survey also found that a strong majority of economists believe a minimum wage of $15 will have negative effects on youth employment levels (84 percent), the number of jobs available (77 percent) and adult employment levels (56 percent). When asked what effect a wage of $15 will have on the skill level of entry-level positions, four-in-five (83 percent) believe employers will hire entry-level positions with greater skills.

Economists are divided on whether a wage of $15 will help or hurt poverty rates. One-third (38 percent) think an increased wage will lead to increased poverty rates, while 27 percent think it will be reduced, 19 percent say it will be unchanged and 16 percent are not sure. Most economists (64 percent) think the Earned e Tax Credit (EITC) is a very efficient way to address the e needs of poor families, while only six percent believe a wage of $15 would be very efficient.

Two-in-five (39 percent) also think the minimum wage should remain at $7.25 or be lowered, with two-thirds in total (66 percent) believing the minimum wage should be $10 an hour or less.

Yet despite this expert opinion, House Democrats are pushing the Raise the Wage Act of 2019, a bill that would increase the federal minimum wage more than 100 percent by 2024. The legislation would also raise the minimum wage of workers who earn tips, like restaurant servers, by more than 600 percent the minimum wage.

Do these politicians not know the effect their policy would have on the low-skilled and working poor? Or do they just not care?

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
The downside of paid family leave: Denmark
As Republicans unveil plans pulsory paid family leave, they would be well instructed to see how such policies have hurt women’s employment prospects. In Europe, where paid leave is pulsory, women face fewer prospects for advancement than in the United States. Veronique de Rugy, a senior fellow at the Mercatus Center at George Mason University, writes about the example of Denmark in The American Spectator. De Rugy, who took part in the first transatlantic “Reclaiming the West” conference in London...
Ocasio-Cortez’s croissant and the value of labor
I recently participated in a student seminar at a large state university. We were discussing readings by Adam Smith, John Locke, Jean-Jacques Rousseau, and others. One student appeared to have a fairly strong attachment to Marxist and socialist ideas. I found myself grateful to him because his participation vastly improved the conversation. At one point, he ventured a critique about the different amounts of money people receive as pay for their work. “What one human being can do is not...
A Spaniard defends Conservative Liberalism
“Conservative liberalism” isn’t a monly used in the United States. Indeed, to American ears, it seems positively oxymoronic. In Europe, however, it constitutes a venerable tradition of political thought and embraces figures ranging from the French thinkers Alexis de Tocqueville and Raymond Aron to economists such as the primary intellectual architect of the German economic miracle, Wilhelm Röpke, and the French monetary theorist Jacques Rueff. As a political tradition, the “liberal” part of conservative liberalism concerns mitment to freedom. The...
Acton Line podcast: A trial for religious liberty; defining honorable business
On this episode of Acton Line, Trey Dimsdale, director of program outreach at Acton Institute, sits down with Andrew Graham, attorney at First Liberty Institute, a public interest law firm. Trey and Andrew talk about a current case threatening Bladensburg World War I Memorial in Maryland, known as the Peace Cross. The land on which the cross stands was first privately owned by American Legion and the memorial was erected with privately raised funds. Now the land belongs to the...
Alejandro Chafuen in Forbes: Aquinas and Bitcoin
Yesterday in Forbes, Alejandro Chafuen, Acton’s Managing Director, International, analyzed moral questions of cryptocurrency in light of St. Thomas Aquinas’s Summa theologiae. It is an application of centuries-old thought to a very recent phenomenon—but of course, as the article seeks to show, moral considerations are perennial even as their particular objects change. What would Thomas Aquinas have thought of cryptocurrency? Our answer may be a conjecture, but if we look at Aquinas’s body of work our conjecture can be well-informed....
Christians shouldn’t be surprised to find capitalism infected by cronyism
When anyone criticizes socialism by pointing out the failures of socialist countries like Cuba or Venezuela, its defenders claim, “That’s authoritarian socialism, that’s not the type of socialism we support.” We defenders of free enterprise mock this shift, but don’t we do something similar? When anyone criticizes capitalism, don’t we say, “That’s crony capitalism, that’s not the type of capitalism we support”? Can the two really be separated? As political scientists Michael C. Munger and Mario Villarreal-Diaz write in their...
Review: Light-Horse Harry Lee, the Revolutionary hero and his reckless downfall
Henry Lee III, besides being the father of Confederate General Robert E. Lee, may be best known for his masterful eulogy of George Washington. “To the memory of the Man, first in war, first in peace, and first in the hearts of his countrymen,” was Lee’s most memorable line about the first American president. In “Light-Horse Harry Lee,”(Regnery History, 434 pages, $29.99), historian Ryan Cole offers up prehensive portrait of the oft-forgotten Lee whose rapid rise as a brilliant military...
Beto O’Rourke’s markets and morality mismatch
Former Texas congressman Beto O’Rourke, who famously lost a senate bid against Ted Cruz (R-TX) in the 2018 election, is currently one of the front-runners in the Democratic presidential primary race. He has polled as high as 12% and as low as 5% in recent polls. He raised $6.1 million in his first 24 hours after announcing his candidacy, and a total of $9.4 million in the first 18 days. I have to admit, I don’t get O’Rourke’s appeal. South...
Unemployment as economic-spiritual indicator — March 2019 report
Series Note: Jobs are one of the most important aspects of a morally functioning economy. They help us serve the needs of our neighbors and lead to human flourishing both for the individual and munities. Conversely, not having a job can adversely affect spiritual and psychological well-being of individuals and families. Because unemployment is a spiritual problem, Christians in America need to understand and be aware of the monthly data on employment. Each month highlight thelatest numberswe need to know...
The reason women don’t enter STEM professions revealed
Conventional wisdom believes three things: Women areunderrepresentedin science, technology, engineering, and mathematics (STEM); this is largely due to sexual discrimination; and the government must redress this imbalance. But multiple studies have discovered a much different reason behind the STEM gender gap. Most media and mentary accepts the theory of “disparate impact”: Any statistical inequality isipso facto“proof” of discrimination. When activistscallthis “one of the most important issues of our time,” opinion-makers nod in agreement. The United Nations General Assembly has passed...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved