The Cato Institute released a statistical analysis that concluded the positive correlation between minimum wage and unemployment rates is not spurious.
Although I am a big fan of the Cato Institute, I am somewhat annoyed by their application of statistics to people. What this and similar studies show is not foregone-concluded correlations so much as the failure of persons to find creative workarounds to ameliorate the ramifications of bad policy. Much to their credit, though, Cato’s foregone conclusions are usually correct, all other factors equal.
