Allowing workers to be paid less doesn't result in more jobs, it just results in more profits for fewer people. http://www.economist.com/news/leaders/21586578-a

Allowing workers to be paid less doesn't result in more jobs, it just results in more profits for fewer people. http://www.economist.com/news/leaders/21586578-americas-income-inequality-growing-again-time-cut-subsidies-rich-and-invest http://www.economist.com/news/leaders/21586578-americas-inco... http://www.pkarchive.org/cranks/LivingWage.html http://www.pkarchive.org/cranks/LivingWage.html > This theoretical prediction has, however, been hard to confirm with actual data. Indeed, much-cited studies by two well-regarded labor economists, David Card and Alan Krueger, find that where there have been more or less controlled experiments, for example when New Jersey raised minimum wages but Pennsylvania did not, the effects of the increase on employment have been negligible or even positive. Exactly what to make of this result is a source of great dispute. Card and Krueger offered some complex theoretical rationales, but most of their colleagues are unconvinced; the centrist view is probably that minimum wages "do," in fact, reduce employment, but that the effects are small and swamped by other forces.