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Driehaus Capital Management is an independent boutique investment adviser managing long-only equity and multi-asset alternative strategies.
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California Minimum Wage
Michael Buck
The minimum wage has long been a contentious political topic, with quick service restaurants a frequent target given wages in the industry have historically been at the low end of the spectrum. Opponents of higher minimum wages argue that higher minimums will reduce employment and increase prices for consumers. Proponents believe higher minimum wages will boost living standards for workers. A recently implemented law in California, AB 1228, provides an opportunity to observe some early effects of a meaningful increase in the minimum wage for quick service restaurants on prices and traffic by using the nationwide averages as a control.
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Featured Commentary
Driehaus Emerging Markets Small Cap Equity Strategy July 2024 Commentary
By Chad Cleaver, CFA
This month’s commentary presents our favorite charts across emerging markets, showing the themes represented in the portfolio.
California Minimum Wage
By Michael Buck
The minimum wage has long been a contentious political topic, with quick service restaurants a frequent target given wages in the industry have historically been at the low end of the spectrum. Opponents of higher minimum wages argue that higher minimums will reduce employment and increase prices for consumers. Proponents believe higher minimum wages will boost living standards for workers. A recently implemented law in California, AB 1228, provides an opportunity to observe some early effects of a meaningful increase in the minimum wage for quick service restaurants on prices and traffic by using the nationwide averages as a control.