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Should the federal minimum wage be raised essay

should the federal minimum wage be raised essay

to that point had found that for a 10 percent increase in the minimum wage, there was a decrease in teenage employment of 13 percent. "Is There a Consensus Among Economists in 1990s?". Archived (PDF) from the original on Michael Reich. 36 The economic model of markets predicts the same of other commodities (like milk and wheat, for example Artificially raising the price of the commodity tends to cause the supply of it to increase and the demand for it to lessen. Mcdonald's Usa Ceo: 35k Robots Cheaper Than Hiring At 15 Per Hour". Retrieved full citation needed Fuchs, Victor.; Krueger, Alan.; Poterba, James.

Journal of Economic Literature. "Technology and Labor Regulations". Archived from the original on "Did Washington State's Minimum Wage Bet Pay Off?". The sweatshop owners were thought to have unfair bargaining power over their employees, and a minimum wage was proposed as a means to make them pay fairly. The Best Minimum Wages In Europe Archived t the Wayback Machine. 128 The Institute for the Study of Labor found prices in the minimum wage sector rose significantly faster than prices in non- minimum wage sectors, in the four years following the implementation of the minimum wage. 105 Increases the work ethic of those who earn very little, as employers demand more return from the higher cost of hiring these employees. 52 Three other possible reasons minimum wages do not affect employment were suggested by Alan Blinder : higher wages may reduce turnover, and hence training costs; raising the minimum wage may "render moot" the potential problem of recruiting workers at a higher wage than current.

16 Other countries, such as Sweden, Finland, Denmark, Switzerland, Austria, and Italy, have no minimum wage laws, but rely on employer groups and trade unions to set minimum earnings through collective bargaining. Alida Castillo-Freeman, Richard. Nineteen states began 2017 with higher minimum wages, from Arkansas to Michigan to Florida, according to the. British Journal of Industrial Relations.