Over on Crooked Timber and The Atlantic, Kathy G(opens in new tab). and Megan McArdle(opens in new tab) are locked in a full-on, spirited debate on the merits, or lack thereof, of a minimum wage.
It’s getting kind of medieval, with writers and readers hurling graphs – and words like “monopsony(opens in new tab)” – like rocks from a catapult against massive walls of text.
The collective weight and academic nature of their posts seem to defy easy summary – but Ezra Klein has put together a few accessible paragraphs(opens in new tab) that are worth taking a few minutes to read.