Muse Spark 1.2Oct 33 citations
Does the minimum wage need to keep up with the cost of living?
Your question touches cost of living, inflation, and wage policy — I'll dig into current evidence before answering.
Whether the minimum wage should keep up with the cost of living depends on what you think the minimum wage is for - but economically, if it doesn't keep up, its real value falls.
1. What "keeping up" means
Cost of living is usually measured by the Consumer Price Index (CPI), incl