Minimum Wage Tracks Productivity: Fair Deal on the Minimum Wage

Charles Lane expresses his pain at the fact that the minimum wage remains hugely popular with large segments of the population. He tells readers:

"It works as a tax on business, whose benefits often accrue to middle-class teenagers, and whose costs — fewer jobs and higher prices — are partly borne by needier intended beneficiaries."

Imagine that, a policy that might have some consequences we don't like -- sort of like any policy that actually exists in the real world. Thankfully, unlike the E...