Articles
Money and Power: Historical Lessons for Stablecoins and U.S. Dollar Dominance
Economics Working Paper 26126
September 8, 2026
Minimum-wage increases promise higher pay, but higher labor costs may also lead businesses to reduce hiring or working hours, favor more experienced workers, or automate more tasks. Because minimum-wage policies do not necessarily reach the families most in need, the Earned Income Tax Credit provides a more targeted way to support low-income working families without limiting employment opportunities.
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David Neumark
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