Minimum Wage Paper

This paper will be graded in two steps.

I. Outline due 10/15, Returned 10/22.

II.  Paper due 10/29

Resources

Editorials handed out in class:

New York Times Editorial Board, Feb 28, 2014, “Business and the Minimum Wage”

Christian Schneider, Journal Sentinel Op-Ed page, Feb 26, 2014, “Wage Hike: good politics, bad policy”

Video Links:

Robert Reich, Raise the Minimum Wage

Tabbarok and Cowen, Price Floor: Minimum Wage

Bureau of Labor Statistics, Characteristics of Minimum Wage Workers Fact Sheet

Outline Format:

  1.  Introduction

Position/Thesis sentence:  __________________________________________

Agree or disagree with a raise of the minimum wage to $15

Hook ideas: ____________________________________________________________

2.  Arguments for raising the minimum wage

Economic theory: a. ______________________________________________

b. _______________________________________________

c. __________________________________________________ (have at least two reasons)

Consider effect of a price floor on a market in equilibrium.  Terms that may be appropriate to use in this section: quantity supplied, quantity demanded, surplus, shortage, worker costs & benefits (remember they are the suppliers), businesses costs & benefits (remember they are the demanders – hiring workers), social costs & benefits

Supporting quotes (at least one from each source):

a.  From video ___________________________________________________________

b.  From article ____________________________________________________________

Not sure what quote to use.  Look here for guidance on choosing and using.

3.  Arguments against raising the minimum wage

Economic theory: a. ______________________________________________

b. _______________________________________________

c. __________________________________________________ (have at least two reasons)

Consider effect of a price floor on a market in equilibrium.  Terms that may be appropriate to use in this section: quantity supplied, quantity demanded, surplus, shortage, worker costs & benefits (remember they are the suppliers), businesses costs & benefits (remember they are the demanders – hiring workers), social costs & benefits

Supporting quotes (at least one from each source):

a.  From video ___________________________________________________________

b.  From article ____________________________________________________________

Complete on your own paper and hand in 10/15.