"As wealth inequality skyrockets and trade union power declines, the living wage movement has become ever more urgent for public policymakers, academics, and-most importantly-those workers whose wages hover close to the breadline. A real living wage in any part of the world is rarely its minimum...

Most economists would agree that a hike in the federal funds rate will cause some slowdown in growth and inflation, and that the bulk of the empirical evidence is consistent with this statement. But perfectly reasonable economists can and do disagree even on the basic effects of a shock to...