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Making The Minimum Wage Work: An Examination Of The Economic Impact Of The Minimum Wage, Steve P. Calandrillo, Taylor Halperin Jan 2017

Making The Minimum Wage Work: An Examination Of The Economic Impact Of The Minimum Wage, Steve P. Calandrillo, Taylor Halperin

Articles

With the passage of the Fair Labor Standards Act in 1938, Congress mandated a federal “living wage” in order to “maintain the minimum standard of living necessary for the health, efficiency, and general well-being of workers.” Advocates have long insisted that increases in the minimum wage result in a net gain to employees’ standard of living. Critics have countered that those gains come at the expense of higher prices and shrinking overall employment numbers, leaving a new class of potential workers out in the cold.

This Article synthesizes the empirical economic impact data from minimum wage increases over the past ...