Monday, June 2, 2014

On travel again = light blogging

I'm on travel for work again (LA). It will probably mean light blogging and lack of response to comments and emails.

I'm working on a post about the minimum wage as my adopted hometown of Seattle is poised to phase in 15 dollars per hour. It is not obvious that the simple supply and demand argument follows. The information detecting capacity of p > 0 and p > 15 are pretty much identical, which means that the primary effect would have to come in through some other market. That means traditional economics is making implicit assumptions in treating this problem.

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Also, try to avoid the use of dollar signs as they interfere with my setup of mathjax. I left it set up that way because I think this is funny for an economics blog. You can use € or £ instead.