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Minimum Wage Legislation

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Minimum Wage Legislation
Since its inception, minimum wage legislation has been a highly debated topic with controversy surrounding its true effect on the economy. While some economists state that firms can afford to pay a higher minimum wage, others argue that a higher minimum wage is detrimental to employees and firms, especially small ones. This is because it will result in lower total revenue for the firms eventually causing them to go out of business or it will increase unemployment because firms lay off employees to afford to pay other employees the higher wage. In order to investigate this controversy, the following research question was developed for this essay: To what extent did an increase in the federal minimum wage from 1990 to 1995 affect the fast
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