Today's minimum wage SHOUT!
If average output (income, same thing) grows why does the economics profession not understand that the minimum wage should grow along with it (as well as inflation) -- instead of being joined at the hip with the concern -- seemingly their only concern -- that a minimum wage raise may cause a rise in unemployment? Why should it cause a rise as long as the wage goes up in step with inflation AND OVERALL PRODUCTIVITY GAINS?!
Other nations -- sane nations -- the minimum wage is raised in step with inflation AND PRODUCTIVITY!!!
In the insane nation -- what 1968 Americans would call early 2007 US -- our federal minimum wage dropped almost in half (in constant dollars) while average income (output, whatever) doubled.
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