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Creating a Pluralist Paradigm: An Application to the Minimum Wage Debate

Bernhard Schütz

Journal of Economic Issues, 2021, vol. 55, issue 1, 103-124

Abstract: The article offers a pluralist route along which different theoretical approaches can be integrated into a common framework. It proposes to use causal mapping and combine it with a micro-meso-macro architecture to get well-structured descriptions of different economic theories and to provide a good foundation for integrating these theories. In order to illustrate this point and to shed some new light on a contested economic issue, the article applies this strategy to the minimum wage debate. It follows from the analysis that from a theoretical viewpoint, the effect of the minimum wage on employment is indeed ambiguous, which is perfectly in line with the existing empirical evidence.

Date: 2021
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DOI: 10.1080/00213624.2021.1874786

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Handle: RePEc:mes:jeciss:v:55:y:2021:i:1:p:103-124