The Pros And Cons Of Minimum Wage

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Society keeps asking for a constant rise in minimum wage, but they fail to realize what they exactly are asking for. Should a fast food worker be making the same as a police officer? Should a lifeguard make the same amount as a medical assistant? No, they should not there is a reason those jobs are being paid lower than others. The discussion of the minimum wage has been going on since it was established back in 1938. Since the creation of the Fair Labor Standards Act, the minimum wage has had issues. Minimum wage constantly nowadays is being argued to be raised by many, yet they do not know many of the consequences and information on minimum wage. Minimum wage laws should be repealed for various reasons. A lot of individuals first inclination when they hear minimum wage is rising, become very joyful and excited forgoing possible disadvantages society will encounter. "A Purdue University…show more content…
Prices at those businesses could increase by an estimated 4.3 percent, according to the report" (Wihbey 1). The study shows that as minimum wage increases prices are going to increase to counter the increase in money individuals are making. A negative effect on society is with prices rising, the prices are going to grow at a much faster rate than minimum wage increasing causing a cycle of imbalance between prices and income. Also, Wihbey discusses how "Critics argue the real effects of increasing minimum wage is negative, causing issues for both businesses and the working poor" (Wihbey 1). What many economists do is see how will both sides of the coin react. Businesses will raise their current prices, and

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