It’s been three years, as of Tuesday, since Congress last raised the federal minimum wage. And many advocates for the poor say that with low-wage workers struggling, it’s time to do it again.
A group of prominent liberal-leaning economists including Joseph Stiglitz, Jeffrey Sachs, Laura Tyson, and Robert Reich sent a letter Monday to congressional leaders urging them to raise the minimum wage from its current level of $7.25 per hour to $9.80 by 2014. “At a time when persistent high unemployment is putting enormous downward pressure on wages, such a minimum wage increase would provide a much-needed boost to the earnings of low-wage workers,” the group wrote.
Read full story at MSNBC
- Why the shadow of WW1 and 1989 hangs over world events
- Sustainable Development Economics
- China’s New Global Leadership
- Can We Break The American Plutocracy?
- Understanding and Overcoming America’s Plutocracy