Minimum Wage: Major Arguments of Liberal Economists
Term Paper ID:27627
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Essay Subject:
Examines Liberal arguments favoring raising of the minimum wage.... More...
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6 Pages / 1350 Words
10 sources, 17 Citations,
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Paper Abstract:
Examines Liberal arguments favoring raising of the minimum wage.
Paper Introduction:
Minimum Wage: Major Arguments of Liberal Economics
Introduction
As Barry Clark indicates in Chapter Nine of Political Economy: A Comparative Approach, the profession of economics, whether classical, liberal, radical, conservative, or modern liberal has long been concerned with the issue of poverty and income inequality. Modern liberal economists have seen the deterioration in the after-inflation value of the minimum wage as having made a substantial contribution to the steep increase in inequality which has taken place in the United States since 1980 (Spriggs & Schmitt, 1996).
The analysis which follows will discuss the minimum wage. First, by briefly summarizing some of the arguments of the
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