The Impact of Raising the Minimum Wage

The Impact of Raising the Minimum Wage

Raising the minimum wage is a contentious issue that intersects economic policy with social welfare, stirring debates among policymakers, researchers, and the public. Proponents argue that raising the minimum wage not only boosts worker income but also serves as a potent tool for alleviating poverty and addressing income inequality (Bailey et al., 2021; Mumbai, 2021; Akin-Olagunju et al., 2019; Horn et al., 2017). Conversely, detractors express concerns regarding the potential adverse effects on total employment levels, emphasizing the need for a balanced approach to policy formulation (Clemens et al., 2018; Kim, 2015). The landscape of research on minimum wage increases encompasses diverse perspectives and empirical findings, shedding light on both the positive and negative ramifications of such policy changes. This research paper undertakes a comprehensive exploration of the myriad effects of raising the minimum wage, drawing upon insights from diverse scholarly sources and empirical evidence.

The primary aim of this paper is to convince the reader of the validity of the thesis statement, which posits that raising the minimum wage positively impacts worker income and poverty reduction while having a negligible effect on overall employment, especially in light of automation trends and productivity gains. To achieve this, the introduction will cover five essential points: the topic of raising the minimum wage, the underlying question driving the research, the significance of this question in contemporary discourse, the approach taken to address the question, and the anticipated answer based on the synthesis of existing literature and empirical findings.

References

Akin-Olagunju, O., Akinribido, B., & Yusuf, S. (2019). Poverty effects of minimum wage increase in Nigeria. Developing Country Studies. https://doi.org/10.7176/dcs/9-11-03

Bailey, M. J., DiNardo, J., & Stuart, B. A. (2021). The economic impact of a high national minimum wage: Evidence from the 1966 Fair Labor Standards Act. Journal of Labor Economics, 39(S2). https://doi.org/10.1086/712554

Clemens, J., Kahn, L., & Meer, J. (2018). The minimum wage, fringe benefits, and worker welfare. https://doi.org/10.3386/w24635

Horn, B. P., Maclean, J. C., & Strain, M. R. (2017). Do minimum wage increases influence worker health? Economic Inquiry, 55(4), 1986–2007. https://doi.org/10.1111/ecin.12453

Kim, Y. M. (2015). Minimum wage effect on the manufacturing and service industry: Wage and employment structure. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.4205337

Mumbai, K. (2021). Raising the minimum wage of the US workforce. Paripex Indian Journal of Research, 41–43. https://doi.org/10.36106/paripex/1306861

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Read the attached lecture notes, visit this website: https://writingcenter.unc.edu/tips-and-tools/introductions/, and view this video: https://youtu.be/clPtbFT23Bs?si=xAxoJW1ByQUHklro, for tips on introduction strategies. Write the introduction for the research paper and be sure to give credit to your sources using APA format for in-text citation.

The Impact of Raising the Minimum Wage

***Enclosed are the attached lecture notes, Research paper topic & thesis, Title page & reference page with citations, Annotated Bibliography, and a draft of the body of the research paper** Use the references already included in the body essay reference sheet. *I added 6 sources because that’s what is on the reference page, however, you don’t have to use all 6.