Monday, January 13, 2014

Minimum wage in 1968 was much higher than today's

To raise the minimum wage from today's $7.25/hr to $10/hr or not has become a heated debate since raising the minimum wage may be the most efficient way to wipe out poverty. Today's $7.25/hr is actually much lower than the inflation-adjusted $10.56/hr in 1968. However, raising the labor cost may spur employers to accelerate the automation such as using the robots to shred noodles. http://www.youtube.com/watch?v=ukNkCnNJuR8

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