Economists Go "Duh", Slap Selves On Own Heads

According to Bloomberg, some economists now believe that raising the minimum wage would not lead to a rise in unemployment. This, the story tells us, is a change from the past when "90 percent of economists said the minimum wage boosted unemployment among low-skilled workers."

So, they're finally getting around to realizing that simplistic theories don't necessarily reflect complex reality. My respect for economists is suddenly boundless.

I'm joking, of course. I still don't have any respect for economists.

As to the article ... well, it simply says some economists believe that because the minimum wage hasn't been raised in so long, inflation has eaten away at it enough that it wouldn't be a burden on businesses to raise it.

I just wonder why no one believes ever-rising CEO pay is a burden on businesses and a job killer? Why is it that giving vast amounts of money to the already wealthy is never, ever seen by economists as an economic no-no?