Related Experiment Video
Updated: Sep 27, 2025

Methods for Presenting Real-world Objects Under Controlled Laboratory Conditions
Published on: June 21, 2019
THE ECONOMIC IMPACT OF A HIGH NATIONAL MINIMUM WAGE: EVIDENCE FROM THE 1966 FAIR LABOR STANDARDS ACT
Martha J Bailey1, John DiNardo2, Bryan A Stuart3
1University of Michigan, Department of Economics, 611 Tappan Street, 207 Lorch Hall, Ann Arbor, MI 48109-1220 and NBER.
Abstract:
This paper examines the short and longer-term economic effects of the 1966 Fair Labor Standards Act (FLSA) which increased the national minimum wage to its highest level of the 20th Century and extended coverage to an additional 9.1 million workers. Exploiting differences in the "bite" of the minimum wage due to regional variation in the standard of living and industry composition, this paper finds that the 1966 FLSA increased wages dramatically but reduced aggregate employment only modestly. However, the disemployment effects were significantly larger among African-American men, forty percent of whom earned below the new minimum wage in 1966.
More Related Videos
Related Concept Videos
Measures of Central Tendency
Testing a Claim about Mean: Known Population SD
Estimating a population mean requires the samples to be distributed normally. The data should be collected from the randomly selected samples having no sampling bias. The sample size needed to be higher than 30, and most importantly, the population standard deviation should be already known.
In most realistic situations, the population standard deviation is often unknown, but in rare circumstances, when it...
Moment of a Force: Problem Solving
Compensation Mechanisms
Respiratory Compensation
This mechanism addresses metabolic-induced pH imbalances by adjusting breathing rates. Respiratory compensation begins within minutes of detecting a pH...
Social Loafing
Sign Test for Median of Single Population

