interesting new research on the long-run effects of the 1967-1968 US minimum wage the policy increased the income of parents, and their young kids were more likely to go to college and graduate, as well as to earn higher incomes later in life. older kids were less affected.
for the full paper from Carillo Sampaio @danielaraujoec.bsky.social and Iglesias: dx.doi.org/10.2139/ssrn...
The 1967-1968 federal minimum expanded coverage, making the policy more universal (previously it excluded restaurants and services often employing Black workers). It also raised the minimum to its highest level in inflation-adjusted terms: $12.30 in today's dollars data.epi.org/minimum_wage...
