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Minimum wages: the economics and the politics

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  • Alan Manning

Abstract

The UK's national minimum wage has tackled extreme low pay - but the wider problem of low pay remains as serious as ever. That is one of the conclusions of Professor Alan Manning in a discussion of the growing popularity of minimum wages as a way of tackling inequality - and the likelihood that it will lead to minimum wages that are much higher than we have seen before in some parts of the world. He notes that the driving force behind higher minimum wages is that they are very popular with voters - but even most economists now agree that they have little or no negative effect on employment. Big increases in minimum wages will test the view that negative effects on employment must eventually kick in.

Suggested Citation

  • Alan Manning, 2014. "Minimum wages: the economics and the politics," CentrePiece - The Magazine for Economic Performance 419, Centre for Economic Performance, LSE.
  • Handle: RePEc:cep:cepcnp:419
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    File URL: http://cep.lse.ac.uk/pubs/download/cp419.pdf
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Minimum wages: the economics and the politics
      by maximorossi in NEP-LTV blog on 2014-05-27 19:53:10

    More about this item

    Keywords

    National Minimum Wage; employment; living wage; politics; public policy;

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
    • J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts

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