Author : Ronald J. Krumm
Publisher :
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.F/5 ( download)
Book Synopsis The Impact of the Minimum Wage on Regional Labor Markets by : Ronald J. Krumm
Download or read book The Impact of the Minimum Wage on Regional Labor Markets written by Ronald J. Krumm and published by . This book was released on 1981 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The prosperity of the U.S. economy and the welfare of the population depend critically on the efficient allocation of resources not only in each area of production activity but also among all possible locations. Labor plays an essential role in the production process. If the trend in increased minimum wages continues in future years, the growth and decline of economic activity among regions can be substantially altered. The minimum wage impairs the location decisions of employers and employees, thereby altering the allocation of resources among regions. Regions that offer high amenity levels and low costs of producing consumption goods and services will become high-cost-of-labor areas, driving industries to other areas. The national minimum wage in this context is a barrier to the workings of a competitive and efficient economy, burdening the current and future earning power of low-skill workers and distributing economic activity inappropriately among the state"--Book jacket.