In the 75 years since it was introduced, Americans have been arguing over the minimum wage. Some say government intervention to artificially raise wages lowers demand for workers and interferes with economic freedom - preventing people who would be willing to work for less from getting jobs at all. They argue that the minimum wage especially hurts teenagers and young adults with few or no skills.
But getting rid of the minimum wage would hurt low-paid workers, opponents argue. They say the minimum wage helps to make up for the way economic growth is no longer reaching down to working families. And they say keeping the minimum wage is particularly important for low-income parents trying to raise children.
Four economic experts recently took on that battle, facing off two against two in an Intelligence Squared U.S. debate. The motion for the Oxford-style debate: "Abolish the Minimum Wage."
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