On April 7, 2021, the Adam Smith Society held a lively debate on the merits and drawbacks of raising the minimum wage with UCLA professor Lee Ohanian and MIT professor Daron Acemoglu, moderated by the Wall Street Journal’s Eric Morath. (Hosted by CMU Tepper and Pitt Katz chapters.)
The Adam Smith Society works to provide a venue where this discussion of foundational ideas can be explored and applied to the current economic environment. We believe that MBA students and business professionals should acquire more than just expertise in areas such as management, marketing, and quantitative analysis—as important as these skills are. They should also come to understand—and be able to defend—the nature of the economic system that fosters job creation, wealth generation, the alleviation of poverty globally, and scientific innovation.