Day Dreaming of a Living Wage Grand Compromise

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The debate over the minimum wage has been very frustrating. Tedious arguments and dueling strawmen abound. Let me summarize some obvious points about the discussion, and then propose a solution that addresses the concerns of both sides. First: If you raise the minimum wage high enough, jobs will be lost. If the average wage in a city is $30 an hour, and you raise the minimum wage to $60, you would…

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