meta_pixel
Tapesearch Logo
Log in
Pitchfork Economics with Nick Hanauer

Repost: Why raising the minimum wage doesn’t raise unemployment (with Mayor Eric Garcetti and Alan Krueger)

Pitchfork Economics with Nick Hanauer

Civic Ventures

Business, Government, News, Politics

4.81.5K Ratings

🗓️ 29 January 2021

⏱️ 50 minutes

🧾️ Download transcript

Summary

You may have noticed that the trickle-downers are out in full force again spouting bad ideas in response to the Raise the Wage Act, which will raise the federal minimum wage to $15/hour. To set the record straight, we’re reposting one of our first-ever episodes, from early 2019, that reveals what the research proves (no, raising the minimum wage doesn’t affect employment), and asks why changing public perception around the minimum wage has been so difficult. Eric Garcetti is the Mayor of LA, where he signed a $15 minimum wage ordinance into law in 2015. The late Alan Krueger was a leading labor economist best known for his work on the effects of the minimum wage. Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Transcript

Click on a timestamp to play from that location

0:00.0

Hello Pitch Fork listeners, Goldie here on a really exciting day at the virtual offices of Civic

0:06.4

Ventures because as I am recording this, Democrats and Congress are introducing the Raise the Wage Act that would raise the minimum wage to $15 by 2025 and then index it to the median wage, which is something that we all have been advocating for for

0:28.3

Six seven years and so to help you sort through all the news you'll be getting about the minimum wage, including the inevitable arguments that it is a job killer.

0:40.0

We are rebroadcasting a conversation we had with the late Alan Kroger, the economist who first studied the question of whether the minimum wage kills jobs and discovered no it does. of the same conclusion, which of course does not stop naysayers from emphasizing

1:06.5

Orthodox economic theory over economic fact. This is one of our earliest episodes from February of 2019 and we're really proud of it because of course we always like to be proven right.

1:21.0

So we hope you listen to this episode, enjoy it, arm yourself with the facts,

1:28.3

debunk the critics, and join us in the fight for a $15 minimum wage.

1:36.5

If you can get people to believe the claim

1:40.4

that raising wages always kills jobs.

1:43.4

Taxes too high, wages too high, we're not going to be able to compete against the world.

1:49.1

Then you have explained the economy to them in a way that makes them fear raising wages.

1:57.4

If you raise the minimum wage, you're going to make people more expensive than a machine.

2:01.0

And that means all this automation that's replacing jobs and people right now is only going to be accelerated.

2:05.3

There are some people I think who just have difficulty not fitting the world into a particular structure.

2:13.2

But we cannot do this if we are going to compete with the rest of the world.

2:17.2

We just can't do it.

2:19.1

So do not raise the minimum.

2:20.6

I would not raise the minimum. I would not raise the minimum.

2:23.0

From the offices of Civic Ventures in downtown Seattle, this is Pitch Fork Economics with Nick Han Hour, where we explore everything

2:36.4

you wished you'd learn in Econ 101. I'm Nick Henhauer, founder of Civic Ventures. I'm Stephanie Urban. I run a lot of our advocacy and campaign work here at Civic Ventures. I'm Stephanie Ervin. I run a lot of our advocacy and campaign work here at Civic Ventures.

2:55.0

In our last episode we've been focusing on the three legs of the trickle down stool and

3:03.3

today we're gonna cover that last leg this one we're expert in so get ready to

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Civic Ventures, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Civic Ventures and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.