The Impact Of A Higher Minimum Wage

For all of my 60-plus years on this planet, there have been two relatively constant economic mantras that were, until recently, rarely ever questioned. First, artificially raising the minimum wage would kill jobs and small businesses. Second, low unemployment will invariably lead to higher wages. In fact, those two assumptions largely underpinned the decision to give ever increasing economic advantages to those mythical, so-called “job creators” in the belief that they would create so many new jobs that wages would actually rise. Our 21st century economy has put lie to both those premises.