Even though minimum wages might go up by 7%, in many states and cities, labor costs aren’t going to go up anywhere as much as they have in the past, because they already have gone up, that also means that prices aren’t going to go up at [places like] restaurants.

Michael Reich

Michael Reich (born 18 October 1945) is a Polish-born economist who primarily focuses on labor economics and political economy. Currently, Reich is a professor of economics and co-chair of the Center on Wage and Employment Dynamics at the Institute for Research on Labor and Employment (IRLE) at the University of California at Berkeley. He served as director of IRLE from 2004 to 2015. In 1968, he helped found the Union for Radical Political Economics.

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