A major critique of the “living wage” regulation adopted by some states (california) and suggested for a the federal government to implement is the worry that it would create large economic ripple effects such as raising the price of goods. In this video, slate magazine breaks down the economic effects for walmart.
Do you support a living wage?
What philosophical questions arise around discussing a living wage?
What are the known economic effects of price floors on an industry?
What are the pros/cons of a living wage?
- To what extent is this an economic issue? To what extent is this a humanitarian/morality issue?
**Check out the living wage calculator that MIT created**
And below is a great op od in the NYTIMES illustrating inequality in america: