At The Market Monetarist, Lars Christensen writes
I find it incredible that anybody seriously would question the negative supply side consequences of higher minimum wages. This is not a political issue, but a simple question of understanding the laws of supply and demand.
What Christensen has done is to take a matter of great (whether they know it or not) significance to an awful lot of people who don't make an awful lot of money, and make it so simple that it seems undeniable.
But it is the difference between "simple" and "simplistic". Lars is simplistic.
Simple is better. Simple doesn't leave things out. "Everything should be made as simple as possible, but not simpler."
My friend Gene Hayward had some thoughts on the Minimum Wage the other day. His post is a bit more involved than Christensen's. (He uses four graphs and works out a bit of his thinking in the post.)
Elasticity of Demand for Labor. That's the thing Gene includes and Lars leaves out. Basically Gene is saying Maybe the crossbones don't look like Lars's perfect X. Gene thinks the Demand for Labor line is a little more upright, so that the decrease in employment is less than it looks on Lars's graph. Gene makes a good argument.