Jason Furman on the Minimum Wage

Jason Furman on women in the labor force

Jason Furman

Dr. Furman served on the Council of Economic Advisers under President Obama.  Unlike many others, he managed to retain his knowledge of basic economics. The beginning of his thread where he describes the scientific method is very good. Nevertheless, he makes a basic mistake in the following thread about the minimum wage.  See if you can spot the error in Jason Furman on the minimum wage.

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Did you spot it?  Dr. Furman has blended positive and normative economics.  He discusses empirical results combined with whether it’s a good idea to raise the minimum wage.  The former is positive economics (economics as a science). The latter is normative (reflects the values of the writer).

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About Tony Lima

Retired after teaching economics at California State Univ., East Bay (Hayward, CA). Ph.D., economics, Stanford. Also taught MBA finance at the California University of Management and Technology. Occasionally take on a consulting project if it's interesting. Other interests include wine and technology.