Why $9?

Why $9?

Since the State of the Union address, the minimum wage has heated upward in i lawsuit again equally a political issue.  You tin plough over the axe read my previous posts on the theme mankiw.blogspot.com/search?q=minimum+wage">by clicking here.  (Unfortunately, approximately of the links inwards these sometime posts are directly dead.)

There is i inquiry I would similar to run into approximately reporter enquire Alan Krueger, the president's main economist: How did they determine that $9 per lx minutes is the correct level?  Why non $10 or $12 or $15 or $20?  Presumably, the president's economical squad must believe that the adverse exercise effects become sufficiently large at approximately scream for that farther increases are undesirable.  But what calculations led them to determine that $9 strikes the correct balance?
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