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A debate has begun in Washington DC on whether or not to raise the federal minimum wage. Proponents say the move is long overdue and is necessary in order to help the most vulnerable members of society make ends meet in tough economic times. Opponents contend that raising the minimum wage will have the opposite effect and will actually cause employers to trim workforces, driving unemployment up.
In this episode we take a look a closer look at the debate and analyze the positions of both sides of the issue. We present information on a few of the studies that have been conducted in the past several years and give our take on the debate.
The Card and Krueger study can be found here.
The Berkeley study can be found here.
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