In the News On the historically racist motivations behind minimum wage
The nonpartisan Congressional Budget Office recently reported that artificially inflating wages to this extent would cut about half a million jobs in the short run (though CBO concedes the figure would be higher in the long-run beyond their mid-2016 projections). Economists note those workers most likely to be cut are lowest-skilled, young, minority workers, who, as Reihan Salam of Reuters writes, need these roles to learn “grit, self-regulation, motivation, and the ability to work constructively with others” as a means “to climb the economic ladder.”
