What’s the difference between a wage subsidy and a minimum wage? What is the cost of a wage subsidy to taxpayers? We take a look at the earned income tax credit and how it affects low-skilled workers. We also discuss Nobel Prize-winning economist Edmund Phelps' work on wage subsidies.
Microeconomics Course: https://mru.io/gsr
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00:00 Wage subsidies
01:49 Cost of the subsidy
02:20 Wage subsidy vs. the minimum wage
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