Monday, April 15, 2019

I don’t wish to suggest people cannot have opinions, but they need to be open-minded. This especially true in fields like economics and public policy, where belief systems and political affiliations can have an outsized impact on objectivity.
Now of course, we should consider the argument that our economic growth has been so strong that it overwhelms any negative effects from the higher minimum wage. No one should ignore that possibility and we will be among the first to acknowledge that this could be the case. We may never know for sure, because in economics you don’t get a chance to run control experiments; you only have the facts at hand.
The problem occurs when we are confronted by facts that are at odds with our belief systems. The options are to either rethink your ideology or alternatively ignore the data. Most seem to have done the latter.

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