The letter below will be submitted to policymakers in support of pending legislation that would raise the U.S. minimum wage to $10.50 per hour. The bill, which is titled the “Catching Up to 1968 Act of 2013,” is sponsored by Congressman Alan Grayson.
As noted in the petition itself, we have also prepared a technical appendix and set of references covering all the points raised in the petition.
Economists who would like to be signatories to this letter should please send name and institutional affiliation to firstname.lastname@example.org.
We, the undersigned professional economists, support the “Catching Up to 1968 Act of 2013,” sponsored by Congressman Alan Grayson of Florida. This measure would raise the federal minimum wage from its current level of $7.25, established in 2009, to $10.50 per hour, and with automatic increases indexed to inflation thereafter.
On Wednesday, April 24, an 8-story building outside of Dhaka, Bangladesh collapsed. Over 600 people were killed, and over 1,000 injured – but the death toll may rise as rescue crews continue their search.
The building housed a variety of businesses, including a bank and five garment factories that employed over 3,100 garment workers – mostly young women. Observers noticed a large crack develop on in the building on Tuesday, and the bank on the second floor told its workers not to come in the next day. The garment factories decided to stay open for business, and the result was tragedy.
They came, they danced, they marched, 2,000 people spirited and strong, Robin Hood’s merry band of men and women, through the streets of Washington April 20.
Ending up astride a prominent government building, christened with a new name and a naming ceremony. No more U.S. Treasury, now, the banner declared, “The U.S. Treasury. A Citigroup Subsidiary. Jack Lew, Inc., CEO.”We could end AIDS, reverse climate change, fund jobs and health care. Who do you work for Secretary Lew?” asked Jennifer Flynn, managing director of Health GAP (Global Action Project). “You work for the people, not Wall Street.”
There have been an extraordinary number of reactions to the paper we wrote with Thomas Herndon that critiqued the highly influential 2010 Reinhart and Rogoff paper “Growth in a Time of Debt.” Not surprisingly, these reactions have run the gamut. It is obviously impossible for us to respond to all the points raised. One of the most thoughtful critical responses was from Prof. James Hamilton of UC San Diego. Prof. Hamilton is an eminent econometrician. He posted his critique on his own blog site Econbrowser here. We are reposting here his critique of our work along with our response, below. Prof. Hamilton was kind enough to post our response on his site as well.
Noticeably absent from President Obama’s “fix-it-first” program for rebuilding America’s crumbling infrastructure, highlighted in his State of the Union speech, is, so far, the controversial Keystone XL Pipeline project. Let’s keep it that way.
There’s heavy pressure from the fossil fuel industry, the politicians they influence, conservative Canadian interests, and some construction unions in the U.S. for the pipeline. But it’s not just the President’s decision. It’s up to all of us to put the pipeline in mothballs and leave the heavy tar sands crude oil in the ground.