Why might economists oppose the minimum wage?

Answer Minimum wage is a part of labor law that determines the lowest hourly rate that individuals can legally be paid. The Federal government periodically raises this rate to help workers manage rising l... Read More »

Top Q&A For: Why might economists oppose the minimum wage

What year did the federal minimum wage go into effect&how much was the minimum wage?

The United States has not always had a minimum-wage law. The federally mandated minimum-wage law began in 1938. It was enacted by the Franklin D. Roosevelt administration. At the time, the federall... Read More »

Living Wage Vs. Minimum Wage?

Many U.S. cities have adopted popular but controversial living wage ordinances which require certain companies and industries who receive government contracts or tax incentives to pay wages that ar... Read More »

Why was the minimum wage set?

When President Franklin D. Roosevelt signed the Fair Labor Standards Act (FLSA) into law in June 1938, he put the principle of a federal minimum wage into action. The minimum wage was intended to p... Read More »

The Advantages of Minimum Wage?

Some economists hate the minimum wage because they believe it basically forces unemployment onto the economy. That is, if there were no minimum wage laws, then a company could pay a worker less for... Read More »