Muse Spark 1.2Oct 213 citations
Does the minimum wage need to keep up with the cost of living?
Your question touches on economics, fairness and policy tradeoffs — I'll gather current data on how minimum wage tracks cost of living.
Whether the minimum wage should keep up with the cost of living depends on the goal of the policy, but economically, if it doesn't, its purchasing power falls.
1. What happens when it doesn't keep up
One of the biggest limitations of minimum wage is that it do