The Minimum Wage

Paper Summary:

This paper examines the contraversy surrounding the minimum wage which was implemented in 1938 when Theodore Roosevelt enacted the Fair Labor Standards Act (FLSA) to protect those who were being abused by the system. It provides a breakdown of the arguments for and against minimum wage increases such as that raising the minimum wage simply cuts off and eliminates low-paying jobs. It concludes with a discussion of the effect of the minimum wage on the economy and labor markets and a look to the future.

From the Paper:

"As stated in an earlier statistic, a person working full time does not make enough to live. Indeed full-time wages fall well below the poverty line. This issue correlate with welfare. The question often arises among those who are on welfare as to why they should work when working equates to a cut in pay. When people make more money on welfare which is designed to help those who are at the bottom of the economic barrel, it's obvious that minimum wage increases are not only important, but essential to the well being of the nation and the nation's economy."

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