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    Matthew W. Thomas (mwt@econtwitter.net)'s status on Tuesday, 30-Jan-2024 18:48:04 JSTMatthew W. ThomasMatthew W. Thomas
    in reply to
    • Lien Rag
    • Phil Stevens :tinoflag:
    • Gerry McGovern
    • Jack of all trades
    • Kyle Montanio
    • GeofCox
    • 504DR
    • phiofx

    @FantasticalEconomics @jackofalltrades @phiofx @phil_stevens @GeofCox @504DR @lienrag @gerrymcgovern you need a theory to do any sort of prescriptive analysis though. Empirical work can tell you what happened, but you need a theory to suggest why, how, or if it will happen again in a different place under different circumstances.

    In this specific case, there are multiple models that have labor increasing in response to a minimum wage. I even made one.

    In conversationTuesday, 30-Jan-2024 18:48:04 JST from econtwitter.netpermalink

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