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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
If policy makers and voters really understood the fundamentals of economics, they might find themselves on the other side of the now-popular debate to increase the minimum wage. Liberals use a raft of studies and a few arguments to back up their minimum-wage-raising position, touting them as proof that hiking the minimum wage helps both workers and the broader economy. This Huffington Post article cites a study projecting that the economy would grow by $22 billion and make 85, 000 new jobs, all......Read More
Why Raising the Minimum Wage is Good for the Economy.President Obama reiterated his call for increasing the federal minimum wage in his speech on the economy last week. "Because no one that works full-time in America should have to live in poverty, I'll keep making the case that we will need to raise a minimum wage which in real terms is lower than it was when Ronald Reagan took office," he explained. Increasing numbers of lawmakers and worker advocates agree, calling for increasing the......Read More
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