The Minimum Wage as a Tool for Racial Economic Justice

Andria Smythe and Linchi Hsu

Journal of Economic Literature, 2023, vol. 61, issue 3, 977-87

Abstract: Participants at the 1963 civil rights march on Washington supported minimum wage laws using arguments of economic justice. Many economists at the time argued against the minimum wage based on efficiency concerns rooted in neoclassical theory. After decades of debate, where does the economics profession stand on the justice and efficiency claims of the minimum wage? We discuss the evolution of the minimum wage literature in economics, focusing on racial justice. We highlight recent empirical papers that overwhelmingly support the position of the marchers on Washington while at the same time showing little to no loss of economic efficiency.

JEL-codes: D63 J15 J22 J31 J38 K31 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1257/jel.20221709

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