The Minimum Wage Should Not Be Increased :: Argumentative Essay, Minimum Wage Essays

An ontogeny in the stripped wage will boost income for the poorest workers without the danger of creating more(prenominal) unemployment., stated President Obama in September 2014. Is this statement about an add in minimum wage really true? There be two sides to the debate about minimum wage. The minimum wage is a major issue in the world of economics and politics. Political figures frequently prey on the publics general ignorance of economics and see to increase the minimum wage. Economists, on the other hand, view the long end point set up and see the damage it can cause. David Card and Alan Kruegur, two economists at Princeton University conducted a study on New Jerseys 18% minimum wage increase. They looked the impact on the New Jersey preservation and compared the results to the state of Pennsylvania which did not capture any change in the minimum wage during the period of the study.. David Card and Alan Kruegur measured the change in employment in New Jerse ys fast pabulum restaurants mingled with February and December that year. Card and Kruegur found that the number of jobs grew in restaurants where deport had to rise, compared with those already paying more than minimum was and compared with restaurants in neighboring Pennsylvania, where the minimum did not change. The study also found no difference between high- and low- wage states. Most plenty would be delighted to here the above. They would pull in more money and their standard of living would increase. But most people do not take into account the negative side effects of increasing the minimum wage. The survey taken by Card and Kruegur was through with(p) over the telephone. Fellow economists charge that the questions were vague and errors crept into the numbers. Another study was through using the businesses payrolls found that New Jersey fared far worse than Pennsylvania. affirmative effects of the minimum wage can be the obvious more money for people. They would s uck more money to spend , the economy would thunder and everyone would be happy. Not so in fact, this would only encourage pretension and increase prices. Money become lesser in value and producers would have no choice but to raise prices in order to make profit. Another negative aspect of raising the minimum wage is unemployment rising. communicate of workers would exceed the demand for workers.