Latest study tagged ‘poverty’
Finance - Monday, September 14, 2009 10:24 - 0 Comments
The effects of raising the minimum wage
Every new economic policy sets off a ripple of adjustments, some intended and others not. Help small farms, and agribusiness may profit; try to promote affordable housing, and evictions could rise.
Minimum wages have often been criticized as a kind of circular zero-sum game: increase pay, and employment will shrink, profits will fall, or prices rise — all of which can hurt workers. In part, this debate led to a decade-long freeze in the U.S. federal minimum wage, which sat unchanged at $5.15 from 1997 and 2007.
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