Sunday, July 16, 2006
An Opposing View on the Minimum Wage
In response to my last post, Internet Esquire commented with a link back to another really good discussion of the minimum wage. I'll admit that the issue is certainly tricky and I don't pretend to be an economist who fully understands the ramifications of any choice we could make. I do tend to think minimum wage increases are not very helpful, but I always appreciate hearing other views and I thank Internet Esquire for the link.
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2 comments:
Esquire actually admits that raising the minimum wage isn't that great of an idea. However, I disagree with the notion that *empirical evidence* demonstrates that raising the minimum wage does not hurt those it intends to help. The empirical evidence cited by the author of the article Esquire cites demonstrates no such thing.
I wrote about this issue here. Esquire commented on my post, stating that increasing the EIC is more effective and efficient in helping the working poor. There is evidence to support this view.
Here's one for ya. When minimum wage is below th poverty level, people starve and children suffer.
Every city and State that has raised their wage has seen economic growth higher than the national average.
All the rest is hot air.
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