E-Journal 5

Whether or not to raise the minimum wage is a hotly debated topic. It is easy to find pronouncements in the press supporting increases in the minimum wage, yet many economists are not so sure it is a good idea or are strongly against further increases. The Federal Reserve Banks have published a number of articles on this topic over the years and many of them are critical of increasing the minimum wage. Oftentimes their arguments go beyond the disemployment effects of a minimum wage increase. Consider one article from those published in 1999 or 2000.  You will get a list of articles by typing in "minimum wage" as the keyword. 

What are the main points of the article? What arguments does the author consider beyond the speculation that an increase in the minimum wage will reduce employment to some extent? Do you find the article persuasive or not? Does this article change your position on whether or not the minimum wage should be raised? If so, how? If not, why not?

Post your e-journal response to All Public Folders - Academic Departments - Economics - Rittenberg - EC151-01 - E-journal 5 by midnight and be prepared to discuss in class.