Assignment:
Classical economics theory suggests higher minimum wages yield fewer employee. This article explores a real world example of a recent , dramatic increase in minimum wages in Seattle. While the article does not come to a conclusion, it examines two studies that come to somewhat different findings.
As you understand the two studies and the critiques of the studies, which conclusion makes sense to you and why? Do you support minimum wage increases and why/why not? Even if the increased minimum wage results in fewer employment hours would you support the higher minimum wage and why/why not?
Some of you have worked for the minimum wage at some point in your work life, did you find the income acceptable for the work you performed? Did it reasonable meet you income needs at that time in our life?
Needs to be 200 to 400 words.
Readings:
How a Rising Minimum Wage Affects Jobs in Seattle
By Noam Scheiber