Document Type
Essay
Publication Date
Spring 2023
Abstract
A debate that has gained traction due to recent economic circumstances is how the United States government should raise the federal minimum wage, and if they should raise it at all. I propose the United States government should raise the federal minimum wage by implementing a living wage or tying the federal minimum wage to inflation. Implementing a living wage would benefit workers as it would cover the cost of living in their geographic area. It would also benefit employers as their employees would be getting paid according to their needs rather than being paid a blanket wage that may not be needed in their geographic area. Tying the federal minimum wage to inflation is also enticing as it would provide steady purchasing power for citizens, ensuring they can purchase goods they need regardless of the situation. Both proposals are better than the current one size fits all model. The one size fits all model does not take into account different local economies and does not account for changes in purchasing power of the U.S. dollar.
Recommended Citation
Henwood, Benjamin, "The American Dream: Living Paycheck to Paycheck" (2023). Richard T. Schellhase Essay Prize in Ethics. 23.
https://digitalcommons.ursinus.edu/ethics_essay/23
Included in
Economic Theory Commons, Income Distribution Commons, Labor Economics Commons, Regional Economics Commons
Comments
Third prize winner.