Newsletter
Automation and the Minimum Wage
Abstract: This issue explains how a higher mandated minimum wage may lead some firms to substitute capital for labor, likely reducing job opportunities.
Keywords: automation; minimum wages; earned income tax credit; human capital; marginal costs; nominal; physical capital; price floor; surplus; technological change;
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Provider: Federal Reserve Bank of St. Louis
Part of Series: Page One Economics Newsletter
Publication Date: 2021-11-01