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The Complex Economics of America’s Minimum Wage

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“Any time the state intervenes in the employment market, it’s going to have an effect — and not necessarily a positive one,” notes Brooks Holtom, a management professor at Georgetown University’s McDonough School of Business. “This is particularly true right now when we are seeing persistently high employment among low-skilled workers and among the young. The raise [for] the workers has to come from somewhere, and it’s most likely that we will see it in the form of job losses.”