All in all, the good far outweighs the bad. The number of ways that higher wages increase economic activity and stimulate the growth of a stagnant economy. A rise in wage could increase consumer spending far more than needed to sustain a business with higher wages. This increase could make businesses successful enough to negate a minimum wage all together. If the economic growth is large enough, people who have a minimum wage job could find themselves no longer at the bottom of the workforce’s totem pole, but rather with a compensation that is large enough to sustain a good standard of
All in all, the good far outweighs the bad. The number of ways that higher wages increase economic activity and stimulate the growth of a stagnant economy. A rise in wage could increase consumer spending far more than needed to sustain a business with higher wages. This increase could make businesses successful enough to negate a minimum wage all together. If the economic growth is large enough, people who have a minimum wage job could find themselves no longer at the bottom of the workforce’s totem pole, but rather with a compensation that is large enough to sustain a good standard of