Thinking about wage subsidies and wage insurance

I wanted to focus on an interesting essay in AEI’s new book, “The US Labor Market: Questions and Challenges for Public Policy.” It’s by economist Glenn Hubbard and looks at ways public policy can support work. Twenty20. Not surprisingly, perhaps, Hubbard looks at expanding the Earned Income Tax Credit, as well as new wage subsidies. Both “dominate” alternatives such as a higher minimum wage and a guaranteed basic income, according to Hubbard. He even gives a smidgen of economist snark: It is also ironic that prominent technology industry executives advancing a guaranteed basic income no doubt consider their own […]

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