Thread: Minimum wage
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Old 04-28-2008, 12:52 PM
sunnyside sunnyside is offline
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Quote:
Originally Posted by Koga View Post
Minimum wage hurts businesses, which inturns hurts workers.

When wages are artifically standarized, employees have to be laidoff.
See. The issues is that for some reason they don't. Remember minimum wage laws are extremely common in the world. And have been implemented/raised time and time again.

I just did a quick search for
"unemployment before and after minimum wage"

And it came up with the following

http://daily.sightline.org/daily_sco...n-unemployment
http://64.233.169.104/search?q=cache...ient=firefox-a
http://www.epi.org/content.cfm/bp178

In short it seems intuitive that if you raise the wage you cut jobs. But that doesn't seem to be what actually happens (which is probably a big part of why minimum wages are so popular).

Oxymoron may have a point though. Still inflation often goes hand in hand with healthy economies. And there is a world of debate in regard to the causes, effects, and desireability of inflation.

Again any evidence on this from the hundreds of instances of implementation of a minimum wage? We'd be looking for a reasonably sharp incline in inflation after a minimum wage was added that doesn't match up with GDP growth or is otherwise atypical for the given economy.
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