24 May Only Exceptional Proff
have displayed 3 web-linked items below (in blue, underlined) that pertain to storied effects of raising minimum wage.
1. An NPR broadcast (with full transcript provided below the broadcast bar)( https://www.npr.org/2017/12/29/574693572/the-potential-impact-of-increasing-the-minimum-wage)
2. A summary article of research at UC Berkeley on the recent increases in minimum wage in California set to become $15, well above the federal regulation floor set at $7.25 in 2009.( http://irle.berkeley.edu/effects-of-a-15-minimum-wage-in-california-and-fresno/)
3. Many sides of the debate about the effects of a hike in minimum wage (positive and negative, for and against) are covered in the “Room for Debate” section of the New York Times. ( https://www.nytimes.com/roomfordebate/2016/09/29/poverty-prosperity-and-the-minimum-wage/dont-ignore-the-costs-of-minimum-wage-increases-when-celebrating-the-benefits)
Assignment is to answer: In “Room for Debate” Michael R. Strain is the author and labor expert who wrote the article entitled: Don’t Ignore the Costs of Minimum Wage Increases When Celebrating the Benefits. Strain offers some statistics, at the national level, that cast doubt on the assumption that minimum wage is effective as a means of improving the overall well-being of low-wage workers. The website referenced in (2.) above is based on data gathered from recent hikes in minimum wage above the federal standard. In California, and municipalities within California, there have been varying amounts by which local wage-floors have been raised.
Question 1: In what ways is the situation for workers receiving minimum wage in California different in comparison with the demographic and economic characterization of the low-wage workers in the summary statistics presented for the entire United States by Michael Strain?
Question 2: Draw the standard market diagram for a low-wage market that has enacted a binding minimum wage. Comment on the positive and negative effects (on low-wage workers and their families) of imposing a higher wage floor. Where possible, illustrate your points by reference to your diagram (either a screen-shot or a cell-phone picture attachment of your diagram should be provided).
Question 3: Briefly state and explain your own view. Do you support California’s legislation which has set up scheduled minimum wage increases to $15 per hour by 2023?
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