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The treatment of minimum wage in undergraduate economics textbooks revisited

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  • Veronika Dolar

Abstract

The discussion about how economics is taught in undergraduate courses is becoming more topical and professors have recently been accused of preaching free-market fundamentalism. In this paper, I review the coverage of the minimum wage in Principles of Economics textbooks to determine whether the aforementioned criticism of free-market fundamentalism applies. Staying within the contours of neoclassical paradigm I propose some examples to present new implications of the minimum wage that are rarely discussed in current textbooks. I provide a richer framework that highlights the effect of the minimum wage in a more nuanced way and discuss the consequences of the minimum wage laws that reach beyond the basic supply-demand diagram. Hopefully, this more comprehensive treatment of the minimum wage topic also helps students develop critical thinking and put to rest criticism that professors teach economics in undergraduate courses as a settled science. In addition, this paper can serve as a blueprint for economics instructors on how to teach the topic of minimum wage laws in their own classes.

Suggested Citation

  • Veronika Dolar, 2013. "The treatment of minimum wage in undergraduate economics textbooks revisited," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 4(2), pages 157-182.
    • Handle: RePEc:ids:ijplur:v:4:y:2013:i:2:p:157-182
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    Citations

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    Cited by:

    1. Jeffrey Clemens, 2021. "How Do Firms Respond to Minimum Wage Increases? Understanding the Relevance of Non-employment Margins," Journal of Economic Perspectives, American Economic Association, vol. 35(1), pages 51-72, Winter.
    2. Arne Heise, 2019. "The resilience of modern neoclassical economics – a case study in the light of Ludwik Fleck’s ‘harmony of deception’," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 13(1), pages 1-18, November.
    3. Arne Heise, 2022. "Mindestlöhne, Beschäftigung und die „Harmonie der Täuschungen“," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 48(1), pages 83-107.
    4. Scott Wolla, 2018. "The Textbook Treatment of Net Exports: Will the Uninformed Reader Understand?," Journal of Economics Teaching, Journal of Economics Teaching, vol. 3(2), pages 232-253, December.

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