Is a higher minimum wage worth the trade-off for reducing poverty?
After working as an economist for 15 years, I've seen how the minimum wage debate often ignores what actually happens on the ground. In my city, a raise to $15 an hour led to some small businesses cutting hours, but it also reduced turnover and boosted worker productivity. The data is mixed, though—other studies show job losses in sectors like fast food. Is a higher minimum wage still worth the trade-off for reducing poverty? I lean yes, but I'm not sure we have enough evidence to settle the debate.