Economic History

The Minimum Wage Debate

A Price Ceiling Has Unintended Consequences
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Comments (4)
  1. Anonymous says:

    I think in this economical climate it could make sense for either raising minimum wage or hiring more people. I am torn between the two situations because I instinctively think to hire more people but as I think about it more I could see benefits to raising minimum wage. Raising minimum wage could create more jobs for people but what kind of jobs would those workers create? More jobs gets more people working and will still help other businesses.

    -Kim Lewis

  2. Anonymous says:

    Given the economy at the moment, minimum wage should not be raised. Increasing minimum wage would lead to more people losing their jobs. Many businesses at the moment do not have the funds to pay employees more. Consequently,if you raised minimum wage and then had to let to people go, it would raise the national average of people unemployed. If I were an employee, I would be happy that I have a job and a steady income, regardless of how much I am making.

  3. Anonymous says:

    I agree with Alex, increasing minimum wage would also mean increasing unemployment rate; is it really worth the loss of jobs for a difference of less than a dollar? I think any extra funds should be put towards hiring more workers, this would help many more people than raising minimum wage would.

  4. Anonymous says:

    I agree with Alex when she says that the economy is too fragile to raise the minimum rage. Right now, I think that it is more important to lower the unemployment rate. The only way we can do this is if companies are able to afford to pay more workers, not by raising the minimum wage.

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