Smith’s implication is that we have never run a minimum wage experiment before and that the increase is unprecedented in economic history. But the core assumption of Smith’s piece is a so-called ...

There has been a huge amount of concern about rising inflation in recent months, and it’s made worse by the fact that wage inflation has not been keeping up. A few workers in high-paid jobs have ...

A wage-price spiral is the stuff of inflationary nightmares. It refers to a situation when prices gallop higher—perhaps because of a sudden shock or policy missteps, or both—and wages race upward to ...