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Why I am for an increase in minimum wage | Wyly Wade
Historically, I have been pretty anti an increase in minimum wage, in the fact that the free and open market should determine what the fair price of labor should be. In the past years though I have been thinking that there are a few ways to deal with an influx of cheap foreign labour and needing increase the bottom of the pyramid purchasing power. This coupled by see what income support programs such as bolsa familia are doing in Brazil have really started to bring to light the question what is the balance between income equality, high jobless rates in an open market and increasing resistance to corporate spending. How are all these tied together, well normally a increase in corporate spending is what drives down the unemployment rate which in turn improves income equality the problem here is we have had a prolonged period of improvement of efficiency within corporations without an improvement of wages thus the income equality has declined leading to less need for hiring new people