The Truth about What Causes Income Inequality in America

In a 2017 article in the Atlantic titled "The Curse of Econ 101," author James Kwak defends increasing the minimum wage as a means to address income inequality.  Here is a sample of Mr. Kwak's reasoning skills: Although the standard model predicts that employers will replace workers with machines if wages increase, additional labor-saving technologies are not available to every company at a reasonable cost. Small employers in particular have limited flexibility; at their scale, they may not be able to maintain their operations with fewer workers. Therefore, some companies can't lay off employees if the minimum wage is increased. What will small businesses with "limited flexibility" do when wage hikes eliminate their profit margins?  Only someone with no clue on how to run a business would have written something so asinine. Since income inequality is so important to progressives, maybe they should find out which...(Read Full Article)
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