Rocheteau, Guilaume, and Murat Tasci.. "The Minimum Wage and the Labor Market." Economic Commentary (May 2007): 1-4. Academic Search Premier. EBSCO. Helmke Library, Fort Wayne, IN. 2 Nov. 2008 http://search.ebscohost.com/login.aspx?direct=true&db=aph&AN=25784296&loginpage=Login.asp&site=ehost-live&scope=site.
This article uses economic principals to demonstrate the effects that minimum wage has on the economy and employment in general. It gives chart representations of these different effects. The charts are valuable visual information to support my argument. The authors demonstrate that in a competitive market such as ours, when minimum wage is raised more people are willing to work and less businesses are willing to hire. The authors assert that this leads to greater unemployment because less people can be employed. All of these statements support my stance that the market should be allowed to find equilibrium on a proper minimum wage.
Bartlett, Bruce. "Minimum Wage Is Bad Policy." Human Events 61.6 (14 Feb. 2005): 9-9. Academic Search Premier. EBSCO. Helmke Library, Fort Wayne, IN. 2 Nov. 2008 http://search.ebscohost.com/login.aspx?direct=true&db=aph&AN=16116038&loginpage=Login.asp&site=ehost-live&scope=site.
This article addresses the common misconception that raising minimum wage will make the lower class better off. He uses statistics to help him convey that most minimum wage earners are young and unskilled and 90% earn more after a year. He also shows that two thirds of minimum wage workers are employed by businesses with less than 500 workers. Since these businesses are so fragile if wage was increased they would suffer most. Small businesses create 75% of new jobs annually so a minimum wage increase would also be detrimental to job growth. This article also includes trends of previous hikes in minimum wage. It shows that unemployment decreases each time. These facts are concurrent with my views and help to support my argument with some substance.
Henderson, David R. "Minimum Wage + $1 = More Poverty." Fortune 138.7 (12 Oct. 1998): 66-66. Academic Search Premier. EBSCO. Helmke Library, Fort Wayne, IN. 2 Nov. 2008 http://search.ebscohost.com/login.aspx?direct=true&db=aph&AN=1116604&loginpage=Login.asp&site=ehost-live&scope=site.
This article is from 1998 but it is still credible because it discusses trends of unemploymentcaused by minimum wage increases. I learned new information from this article such as the fact that for every 20% increase in minimum wage unemployment rises by two to four percent. Also, this article discusses how census data shows that each time a state raises its minimum wage, within a year the amount of families in poverty rises by 4.5%. This author argues the debate should not be against raising minimum wage but abolishing it instead.
Sunday, November 2, 2008
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