Word: kruegers
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...just as Freddy Krueger from the grave, asRocky Balboa from the mat, Harvard did not gogently into that good night. With 6:30 left,junior Jason Karmanos clipped the lead once againto...
Many economists worry about two pernicious effects of raising the minimum. The first concerns job loss. Standard theory holds that every hike in the wage triggers employee firings, with the least skilled axed first. That view has been challenged by several recent studies co-authored by Alan Krueger, the Labor Department's chief economist. A modest increase, says Krueger, would have ``negligible negative employment effects''--or, in plain English, next to no job losses. Negligible, though, is a term of art. Because wage- related costs like unemployment compensation and payroll taxes rise along with the basic wage, most experts...
...even if Krueger's right and no one's fired,'' says University of Texas economist Daniel Hamermesh, ``a raise will deter employers from hiring new workers. That's bad especially for young minorities--over 30% of whom are unemployed--because they're the people we want in the labor force, so they can begin learning basic job skills...
Alluding to Krueger's work without naming him, the President said last week that the ``weight of the evidence is that a modest increase [in the minimum wage] does not cost jobs.'' That may be so, but Clinton's calculation was primarily political. ``We need the energized support of minorities and unionists, our core group of voters,'' says a Clinton adviser, ``especially if there's another three-way race...
...envelops and consumes us; it is all the air we breathe. It should make for an ideal film subject. But moviemakers rarely know what to do with obsession. They make it trivial, cartoonish. A superfiend itches to blow up the planet -- big hairy deal. An id-monster like Freddy Krueger dices and slices kids as they sleep. Zzzzzz...