The Money with Katie Show How to End Low Wage Work—Forever
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Dec 3, 2025 Ben Glasner, an economist with a PhD focused on creating a fairer economy, shares insights into combating low-wage work. He discusses the staggering statistic that 21 million Americans earn under $16 per hour, two-thirds of whom are women. Ben proposes wage subsidies as a solution, offering efficient targeting and bipartisan support, unlike traditional job creation methods. He explains how this funding could uplift small businesses and enhance local labor markets, all while addressing concerns about fraud and minimizing disemployment risks.
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Monopsony Explains Wage Pressure
- Market power (monopsony) can depress wages when employers face limited competition.
- Policies like unions or minimum wages are tools to counteract buyer-side power in labor markets.
Match Policy To The Objective
- Target policies to their specific goals rather than assuming one tool solves many problems.
- Evaluate programs by how well they reduce poverty or increase wages instead of political narratives.
Wage Subsidy Basics
- A wage subsidy tops up paychecks for low-wage workers and aims to boost both wages and employment.
- Its conditional pro-work design helps earn bipartisan interest like past child tax credits.
