The Influence Of Minimum Wage On Society
In recent debates about remuneration, some controversial issues that have been brought up are about the federal minimum wage, and its influence on society. On one hand, some claim that the federal minimum wage is to low, and in fact, needs to be raised so families can earn a living wage, but also help the poor, promote job growth, support workers, and decrease prices on many goods. One advocate of this view is Aaron Pacitti of The Huffington Post who asserts that “Raising the minimum wage is good economic, good policy and good for workers” (Pacitti). Others, such as John Wihbey of the Journalist’s Resource, however, strongly disagree. Wihbey states that “the real effects of minimum-wage increases are negative: they hurt businesses, raise prices
and ultimately are counterproductive for the working poor, as they can lead to unemployment” (Wihbey). After inquiring deeper into this conversation, I have come to strongly support the argument of the numerous highly respectable scholars and institutions, like Harvard, Dartmouth, and Cambridge, who have published many written works and done research arguing that, despite Pacitti’s statement, increasing the minimum wage is positive for society, but instead it actually increases unemployment, raises prices, and does not reduce poverty. This is because, upon close examination of the effects the federal minimum wage has on society not only as it exists today, but also through its origins and history in the United States, it is quite noticeable that increasing the minimum wage have negatively affected and continue to affect, employees and businesses at a huge disadvantage.
and ultimately are counterproductive for the working poor, as they can lead to unemployment” (Wihbey). After inquiring deeper into this conversation, I have come to strongly support the argument of the numerous highly respectable scholars and institutions, like Harvard, Dartmouth, and Cambridge, who have published many written works and done research arguing that, despite Pacitti’s statement, increasing the minimum wage is positive for society, but instead it actually increases unemployment, raises prices, and does not reduce poverty. This is because, upon close examination of the effects the federal minimum wage has on society not only as it exists today, but also through its origins and history in the United States, it is quite noticeable that increasing the minimum wage have negatively affected and continue to affect, employees and businesses at a huge disadvantage.