All tagged minimum wage

Raising the Minimum Wage: Evidence from Empirical Research

With the Biden administration looking to deliver on its campaign promises and ease the country’s political tension, the minimum wage debate has resurfaced with more potency than ever before.The issue is largely partisan and is often divided into two sides: advocates for a higher minimum wage argue that workers would benefit from having more of a living wage and that they are entitled to such pay, while opponents argue that paying higher wages will cause businesses to pass expenses onto consumers via inflation, lay off workers, cut hours, and shut down entirely. While this simplification doesn’t capture all of the arguments’ nuances, it gives the main strife: will people be better or worse off?