Myth and Measurement: The New Economics of the Minimum Wage - Paperback

"Most economists believe that minimum wages invariably reduce employment, but are they right? In this compelling analysis of the U.S. minimum wage, Card and Kreuger show that recent increases in the minimum wage had no adverse effect on employment. This pathbreaking book suggests that economists know less about what the invisible hand is up to than they let on."--Richard Freeman, London School of Economics and Harvard University<P>""Myth and Measurement"is an extraordinarily important book. It will rank with seminal works in labor economics, including Gary Becker's "Human Capital," Jacob Mincer's "Schooling, Earnings, and Experience," Richard Freeman and James Medoff's "What Do Unions Do?," and Edmund Phelp's (ed.) "Microeconomic Foundations of Employment and Inflation Theory." The book will interest everyone involved in the minimum wage debates, and it will cause economists to question seriously the models they use and how they do empirical research."--Ronald G. Ehrenberg, Cornell University<P>"The analysis of minimum wage by Card and Krueger is both comprehensive and provocative. It challenges the received wisdom and is certain to be a major influence on all future work on the topic."--James J. Heckman, University of Chicago<P>""Myth and Measurement" is an extraordinarily important book. It will rank with seminal works in labor economics, including Gary Becker's "Human Capital," Jacob Miner's "Schooling and Earnings," Richard Freeman and James Medoff's "What Unions Do?," and Edmund Phelp's (ed.), "Microeconomic Foundations of Employment and Inflation Theory." The book will interest everyone involved in the minimum wage debates, and it will cause economists to question seriously themodels they use and how they do empirical research."--Ronald G. Ehrenberg, Cornell University<P>"In Card and Krueger's hands, the collage becomes a dangerous weapon; the idea that employment has fallen significantly in the wake of minimum wage increases is attacked with both