Currently, the federal minimum wage is $7.25; the Massachusetts state minimum wage is $12.75. The intended purpose of the minimum wage, when initially enacted was to provide a lower bound for wages for all working people**. Do the current wages fulfill this intended purpose of a “minimum wage”? Why or why not? Since not everyone in society will pursue college or a skilled-trade, should there be a livable minimum wage such that individuals could work full-time and make ends meet? How does this link to our discussion of inequality earlier in the course?
* Based on the information presented in Part I, do you think raising the minimum wage would be beneficial or harmful to society? Why? How? Who would benefit or be harmed?