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External Partners Alumni Search Submit Return to home Search Search About About Olin Home Why Olin Equity, Diversity & Inclusion Leadership & Strategy News & Media Events Contact Us Programs Programs Home Explore Our Programs BS in Business Administration MBAs Specialized Master's Doctoral Executive Education Dual Degrees Faculty & Research Faculty & Research Home Faculty Directory Research Research Centers Olin Brookings Commission Olin Award Student Resources Student Resources Home Career Services Center for Experiential Learning Entrepreneurship Academic Calendars Student Organizations For Current Students For Military Veterans Admissions Admissions Home Scholarships & Aid Attend Program Events Visit Olin Ask a Student Student Profiles Request Information Refer a Candidate External Partners Alumni MacDonald sees downside of higher minimum wage May 2, 2017 By WashU Olin Business School 1 minute read Home News MacDonald sees downside of higher minimum wage Glenn MacDonald, the John M. Olin Distinguished Professor of Economics and Strategy, warned of negative fall out from the new minimum wage that goes into effect this month in St. Louis. MacDonald In an article distributed by the Associated Press, MacDonald said, &＃8220;There are plenty of negative aspects: Jobs will be cut. Costs will be passed on to consumers. Even then, not all businesses will be able to absorb the added cost. Some businesses that are hanging on by their fingernails will just shut down.&＃8221; Other business owners and employees quoted in the article were more optimistic about the impending hike in the minimum wage. St. Louis businesses will be required to pay a $10 minimum wage, increasing to $11 in January, 2018. Link to article About the Author WashU Olin Business School Firmly established at the Gateway to the West, Olin Business School at Washington University in St. Louis stands as the gateway to something far grander in scale. The education we deliver prepares our students to thoughtfully make difficult decisions—the kind that can change the world. Contact Us For assistance in finding faculty experts, please contact Washington University Public Affairs. Monday&＃8211;Friday, 8:30 to 5 p.m. Sara Savat, Senior News Director, Business and Social [email protected] &＃160; Kurt Greenbaum,Communications [email protected] Twitter: WUSTLnews Share article Apply Now Visit Us Request Info One Brookings Drive, St. Louis, MO 63130-4899 [email protected] 314-935-7301 News & Media Events Faculty Directory WashU Center for Career Engagement Washington University home Olin Links Sitemap Privacy Policies Title IX Accessibility ©2024 Washington University in St. Louis