Minimum Wage Thumbs Up Essay - 2021 Words

Minimum Wage: Thumbs Up! Thumbs Down? Sean Sandlin Northeast Lakeview College – ECON 2302 Author’s Note: The information contained within this paper is the sole product of the author except where cited. Contact: ssandlin4@alamo.edu Abstract The purpose of this paper is to present various data points used for or against the economic effectiveness of the federal government or any government establishing minimum wage laws. The paper will attempt to address assumptions or premises which may or may not influence results of said studies. In an effort to maintain objectivity, research attributed to the three political think tanks was used in discerning the makeup of the data presented. Minimum Wage: Thumbs Up! Thumbs Down? Sean Sandlin Northeast Lakeview College ECON 2302-005 The Minimum Wage – the argument over its efficacy has waged since before the passage of the Fair Labor Standards Act of 1938. Prior to answering the moral, social, or political question of whether a minimum wage should be mandated or whether such a law is fair; it is necessary to look at the data. What does the data say and how should we interpret the data? This paper will rely heavily upon David Neumark’s and William Wascher’s research and analysis in this subject as well as upon the Congressional Budget Office (CBO) report from February 2014. Also, in order to assess whether a minimum wage can or has been successful, the definition of what minimum wage represents must be offered.Show MoreRelatedThe Industrial Revolution : The World Into The Forward And Advanced World We Live1387 Words   |  6 Pageswas vital in shaping the world into the forward and advanced world we live in now. The Industrial Revolution started in 18th century England, pushing England t owards becoming one of the most industrialized nations in the world. 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