Economics, Taxes and Spending, U.S. Economy

Banter #89: Should the minimum wage be raised?

Image Credit: Shutterstock

Image Credit: Shutterstock

In this week’s episode of AEI’s Banter podcast, Stu and Andrew sit down with the man, the myth, the legend: AEI economist Michael Strain. The topic: minimum wage laws. Michael walks through the likely effects of raising the federal minimum wage law from $7.25 to $9.00 as President Obama proposed in his recent state of the union address. Michael touches on both economic theory and empirical studies to make his case, suggesting that unemployment would rise. But we don’t just stop there. We also discuss the potential upside of raising the minimum wage, who works in minimum wage jobs, and the value of these jobs for workers. Last, Stu and Andrew reminisce about minimum wage jobs they’ve held (present jobs excluded). You can listen to the podcast on our site here and you can subscribe on iTunes here. Enjoy!

One thought on “Banter #89: Should the minimum wage be raised?

  1. Bye bye what’s left if our manufacturing economy.China & Mexico would love to see the US raise the minimum wage.I say lowering the minimum wage would be a better option,more jobs not less higher paying jobs

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