If you think about it, the most predictable harms should come from the same mechanisms as the benefits. And the mechanism? Complicated economics. Or at least that’s the mechanism I’d like to emphasize, since it’s harder to quantify the other ones.
And what do I mean when I say complicated economics? I mean http://en.wikipedia.org/wiki/Monopsony#Minimum_wage . Look at the diagram to the right. It took me about an hour of actual work to understand what that diagram means to the minimum wage, so no rush.
If you think about it, the most predictable harms should come from the same mechanisms as the benefits. And the mechanism? Complicated economics. Or at least that’s the mechanism I’d like to emphasize, since it’s harder to quantify the other ones.
And what do I mean when I say complicated economics? I mean http://en.wikipedia.org/wiki/Monopsony#Minimum_wage . Look at the diagram to the right. It took me about an hour of actual work to understand what that diagram means to the minimum wage, so no rush.