Journal Facts

Journal
Journal of Collective Negotiations
ISSN
2167-7816 (print) 2167-7824 (electronic)
Volume
32
Issue
1
Date
1/1/2008

Article Facts

Title
A Note on Teaching Minimum Wages in Economics and Business Courses
DOI
10.2190/CN.32.1.f
Authors
  • David A. Dilts
  • Hedayeh Samavati
Pages
51-56
Online Date
04/29/2008

Article Links

A Note on Teaching Minimum Wages in Economics and Business Courses

David A. Dilts
Hedayeh Samavati

DOI: 10.2190/CN.32.1.f

Abstract

Since the Krueger article of 2001 concerning the teaching of minimum wages in the principles of economics, "the new economics" seems not to have been widely adopted by textbook authors. A majority of principles of economics textbooks have not adopted the recommendation of Krueger in their presentations of the minimum wage. Perhaps there is a reluctance to take the discussion of the labor market or of government intervention past the purely competitive model; however, such reluctance misses an opportunity to bring relevance to the principles course. The debate concerning poverty, the working poor, the employment practices of Wal-Mart, and a host of other current controversies has led to a renewed discussion of minimum wages. The analysis of monopsony provides an opportunity to apply microeconomic theory to better understand these relevant policy matters.

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