Acton Institute Powerblog Archives

Post Tagged 'Minimum wage law'

10 Things You Should Know About the Minimum Wage Debate

Since 1938, when President Franklin Delano Roosevelt introduced the first federal minimum wage in the U.S., a debate has raged about whether wage floors help or hurt workers. But thanks to a radical economic experiment in California, we may be only a few years away from having a definitive answer. Continue Reading...

Why Does the New York Times Want to Hurt the Poor?

While it may be difficult to imagine, there was once an era when the New York Times was concerned about the poor. Consider, for example, a 1987 editorial they ran with the headline, “The Right Minimum Wage: $0.00.” As the editors noted at the time, [Raising the minimum wage] would increase unemployment: Raise the legal minimum price of labor above the productivity of the least skilled workers and fewer will be hired. Continue Reading...

How to Prove That Everyone Knows Raising Minimum Wages Increases Unemployment

Yesterday I mentioned that translating economic principles into intuitive concepts is one of the most urgent and necessary tasks to prevent such evils as harm to the poor. Today, William Poole provides an excellent example of what is needed with his “common-sense thought experiment” on minimum wage increases: Suppose Congress were to enact a minimum wage $50 higher than the current one of $7.25 per hour. Continue Reading...

The Forgotten Man at the Piggly Wiggly

“Want a job at the Pig?” asked my best friend Steve. By my reaction, you would have thought he’d asked if I wanted a date with Kathy Ireland rather than inquiring about a job as a grocery sacker at the Piggly Wiggly. Continue Reading...

The Minimum Wage Workforce Myth

During his recent State of the Union address, President Obama argued for increasing the federal minimum wage: Even with the tax relief we put in place, a family with two kids that earns the minimum wage still lives below the poverty line. Continue Reading...