Class, the argument is simply stated. When the minimum wage rises, employers will begin to look at changes in operations--inefficiencies or even re-location--that will cost them less money overall and thus jobs for lower income workers will be reduced.
The minimum wage by definition takes market determination of wage levels out of the equation, at least on the minimum level. There is political momentum building now to raise the minimum wage toward $15 per hour from the current $7.25 per hour. If we let political forces set minimum wages, why not a minimum wage of $25 or even $50 per hour?
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