Economists reverse claims that $15 Seattle minimum wage hurt workers, admit it was largely beneficial

Earlier this year, a group of business school researchers from the University of Washington and NYU, as well as Amazon, published an influential paper claiming that the rising Seattle minimum wage had decreased take-home pay for workers by 6% due to cuts to work hours — the paper was trumpeted by right-wing ideologues as examples of how "liberal policies" hurt the workers they are meant to help.

Infographic: all US one-time expenditures vs the bailout

Barry Ritholz sez,

It is exceedingly difficult to convey exactly how much we are spending o bailouts. Start talking trillions (versus mere billions) and you get puzzled looks from people.

Humans have a hard time conceptualizing any number that large. I wanted a graphic way to clearly show how astonishingly ginormous the amounts involved were.

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