The Pros And Cons Of Raising Minimum Wage

After the minimum wage was introduced in 1935, it remains controversial to this day. Debates ensue over whether or not the minimum wage does more harm or good, and if it should even exist at all. Minimum wage is supposed to rise with inflation, but at its current rate of $7.25 per hour it is not close to the wage set in 1960, which adjusted for inflation would be $15. Some people believe that a minimum wage is necessary to protect workers’ rights, and that a living wage would boost the economy and better paid workers do a better job. Arguments against raising a minimum wage debate that the market should decide the worth of workers as it describes the worth of goods and services, and that people who depend on minimum wage should work more for a better paying job. …show more content…
I agree that a minimum wage is necessary to protect workers from large corporations trying to squeeze out every dollar. This is seen in the Gilded Age, a time when large business owners, known as robber barons, made millions, while factory workers worked for sixty hours a week, barely making enough money to survive. There are many ethical issues with the rights of workers during the Gilded Age, and laws have been passed to protect workers. I agree that there needs to be a minimum wage to prevent top business leaders from infringing upon the rights of the worker. I also agree that minimum wage should be consistent with inflation. Because the cost of living continues to rise due to inflation, minimum wage should increase at the same rate. However, minimum wage is way lower than it should be if it were consistent with inflation and the rising cost of