Guest view: An argument for minimum wage
Note to Readers: Hinsdale Central High School students wrote two editorials as part of their general economics course during their study of microeconomics this school year. They were learning about the positive and negative effects of government involvement in labor markets. Find the argument against minimum wage here.
Since the minimum wage was established in 1938, people have been arguing whether minimum wage is beneficial for America. For 75 years, critics have claimed that the minimum wage increases unemployment and that the minimum wage does not truly help support a family.
Getting rid of the minimum wage will reduce consumer purchasing power, reduce spending and hurt the overall economy. Also, studies by the Institute for Research on Labor and Employment at the University of California, Berkeley, show that minimum wage does not increase unemployment, even in bad times.
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