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After two weeks of detailing the arguments for and against increasing the federal minimum wage - interviewing economists and policy specialists, poring over a flood of mails by workers and business owners, reading scads of papers pro and con - I've reached an important conclusion: This matter is really complex. I realize that doesn't sound significant, but in the context of our current national debate over the minimum wage, it is really very fundamental. That's the reason Democrats, by President......Read More
Human beings are the building blocks of society. The societies agglomerate to make states. And then the nations are formed. The economy of a nation is the indicator of its prosperity. What the economy affects primarily are the people of a nation. The method, which employs the concepts of macroeconomics to achieve social goals, has been christened as welfare economics. Economics with the information, tables, chart etc. Can seem to be quite a rigorous and rigid discipline. However, the......Read More
The UK has the lowest-ever unemployment and the highest-ever minimum wage. Data monitoring back to 2000 show no link between the wage level and unemployment. The minimum wage has risen faster than inflation during that time period. The statistics indicate that the traditional economic idea that rising wage costs reduce the number of accessible jobs might not be accurate. LONDON - It's one of the oldest and debates in economics: Does increasing the minimum wage increase unemployment, by making it......Read More
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