National Minimum Wages – Term Paper

In the contemporary society, raising the minimum wage has been one of the main controversial issues. The topic has increased momentum amongst policymakers as a method of lessening rising minimum wage and income disparity. Some scholars argue that the minimum wage should be increased since it is good for the economy and the employees while others claim that it should not because many workers will be hurt. Another group of individuals asserts that minimum wage should not exist at all since it will not benefit the economy and the employees. The debate regarding the raise of the minimum wage is whether this will cause the loss of jobs or not. This essay will introduce the minimum wage, define it, give its history, consequence of increasing it on employment (employers and employees), implications of raising it on the economy, and the individuals it affects.